Pepper settles at Rs.14,375 at commodity exchange

April 17th, 2008 - 3:44 pm ICT by admin  

Ahmedabad, April 17 (IANS) Pepper settled at Rs.14,375 and rubber at Rs.10,716 Wednesday in the April-2008 futures contract at the National Multi-Commodity Exchange (NMCE). Among the other commodities traded on the e-platform of NMCE that expired Tuesday, cumin seed settled at Rs.8,950, isabgol at Rs.4,609, dry coconut (copra) at Rs.4,186, coconut oil at Rs.6,250, guar gum at Rs.4,604 and castor seed at Rs.2,602. Prices of all these commodities are quoted in rupees per quintal.

Of the April-2008 futures contract in other commodities - which also expired at NMCE Tuesday, rape/mustard seed settled at Rs.495 (per 20 kg), sacking at Rs.1,760 (100 bags), and cardamom at Rs.538 (per kg).

The settlement prices are calculated by averaging out the prices of the particular commodity on three days preceding the expiry date.

Different series are launched on different specified dates of the month and run for different periods. For instance, pepper is simultaneously traded in five-six series and rubber in four series.

NMCE Thursday launched new series for futures contract in 13 commodities and six new ’spread series’ in pepper and rubber.

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