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FOOD SPICES

Hot spices power up agri index:
The spices complex looked bullish on Saturday as did the soya complex with soya oil registering gains over the previous trading session. The agri index was up two-fifth of a per cent at 1653.50 points.
Chilli for November rose 2.7 percent at Rs 5,350, while the December contract jumped 4.7 percent to Rs 5,470 per quintal. Brokers like Geojit Commodities feel the truce between NCDEX and local traders in Guntur with respect to quality issues at the exchange warehouses has given force to the rally.

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India has exported spices worth more than US $ 1billion for 2007-08 thereby crossing a major milestone and exceeding the targets set by Spices Board fo the year. This is despite the rupee appreciation and negative globa factors that prevailed.

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NEW DELHI: Black pepper prices fell by Rs 100 per quintal following reduced offtake by stockists here at the wholesale spices market on Tuesday.

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Traders said poor demand from retailers and local parties amid excess stocks position mainly attributed fall in the black pepper prices.

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