Pepper settles at Rs 14,375, rubber at Rs 10,760

Ahmedabad, Apr 16 (UNI) The April-2008 futures contract in pepper that had expired at the National Multi-Commodity Exchange (NMCE) on Tuesday, settled at Rs 14,375 and rubber at Rs 10,716 today.

Among the other commodities traded on e-platform of NMCE that expired on Tuesday, cumin seed settled at Rs 8,950, isabgul seed at Rs 4,609, copra at Rs 4,186, coconut oil at R .6,250, guar gum at Rs 4,604 and castorseed at Rs 2,602. Prices of all these commodities are quoted in rupees per quintal, an NMCE release said here.

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 arrived at 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.

Meanwhile, NMCE launched a new series for futures contract in 13 commodities and six new ''spread series'' in pepper and rubber, the release added.

UNI MP NM SKB1725