Mumbai Police apprehended Gurunath Meiyappan, a key official of the Indian Premier League's (IPL) Chennai franchise, late on Friday in connection with a spot-fixing scandal that has also led to the arrest of three cricketers. Full Article
Breakingviews columnists discuss the implications of inflation being in decline globally. Video
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
India pepper up as traders cover short positions
MUMBAI Dec 29 (Reuters) - India pepper futures ended higher on Monday on short-covering after trading weak all day, analysts said.
Pepper prices have fallen close to six percent last week on demand worries and continuous new crop arrivals.
Prices were weak all day as low export demand coupled with fresh arrivals weighed, Kunal Shah, an analyst with Nirmal Bang Commodities said, adding the trend for the near-term was bearish.
The market will stay weak in the short-term as international demand will only revive from mid-January, after the holiday season, analysts said.
Pepper exports in the April-November period fell 33.2 percent to 16,850 tonnes as demand took a hit from the global financial crunch. [nBOM420288]
Spot prices in the Kochi market fell over 115 rupees to 10,249 rupees per 100 kg. Following are the closing prices of pepper futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd. <0#NPE:> Contract Reuters code
Price Change in %
Jan NPEF9 10,013 1.13
Feb NPEG9 10,023 1.11
(Reporting by Nandita Bose; editing by Harish Nambiar)
- Tweet this
- Share this
- Digg this