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Drumbeat: Ad Buzzaar
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Monday, July 13, 1998
Pepper remains depressed
Our Bureau
Prices of black pepper continued to move on a narrow band in the pepper market here during the week ended July 10. Trade sources said prices were not showing any signs of revival as foreign buyers are still watching from the sidelines. However, they expect prices to firm within a couple of weeks time. As the monsoon season deepened in the State, the arrival of the commodity also slowed down. The growers apparently realised that there was no reason for panic and had started building up their stocks again, sources said.The total arrival during the week was only a paltry 105 quintals which is substantially lower compared to the arrivals a couple of weeks ago when the sanction rumours hit the market. While the spot pepper gained over Rs 200 per quintals in the initial days of trading, it closed the week at the opening level of Rs 20,900 per quintal. Long term futures despite attracting good volumes did not improve in terms of prices. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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