Pepper contract drops 5 per cent

Pepper near-month contract fell below Rs 10,000 mark, a drop of over 5 per cent, on the National Commodity and Derivative Exchange and Multi Commodity Exchange (MCX) on Thursday.

The prices, which have been continuously falling since the start of this week, fell by Rs 528 a quintal on the Ncdex to Rs 9,945 from yesterday's close of Rs 10,473.

On MCX, the fall was of Rs 619 per quintal taking the closing price to Rs 9,961 from yesterday's close of Rs 10,580. The spot price of pepper closed at Rs 11,115 a quintal, bringing a backwardation of Rs 1,170.

Chilli near-month contract firm

Chilli near-month contract maintained its firm trend and managed to remain above yesterday's close. It closed at Rs 4,799 a quintal against Wednesday's close of Rs 4,666 on NCDEX. Chilli's spot remained far ahead than the futures at Rs 6,308.

Mentha oil Nov hits lower circuit

Mentha oil November futures on Thursday, hit the lower circuit of 5.11 per cent on National Commodity and Derivatives Exchange. The prices declined by Rs 33 a kg to Rs 613 on Thursday from Wednesday's close of Rs 646.

Potato down on arrivals

Potato futures hit downward circuit on Thursday on huge arrivals and minuscule demand in Delhi. The price of potato for near-month contract slumped by 6.3 per cent to close the day at Rs 852.80 a quintal compared with Rs 913.60 a quintal on Wednesday.

The commodity is following the spot market trend, a trader said.