Kochi, Jan 14: Trading in dollar-denominated pepper futures is delayed further beyond its scheduled time of January 2001. In order to facilitate foreign buyers, The International Commodities Exchange (ICE) segment of the Indian Pepper and Spices Traders Association (IPSTA), was expected to commence trading in dollar denominated pepper futures by January 1, 2001. The permission from commodity futures regulator was made available last year.However, more than six months after the formal approval by the regulators, the task force constituted to study the aspects of dollar-denominated trade in pepper futures is still said to be looking into the different aspects of the subject.
Yet another meeting of the members of the task force is scheduled to be held with the prospective buyers on January 22.
IPSTA president Kishor Shamji said ``We are not for hurrying through the matter. The task force was awaiting feedback from overseas buyers as well''.
Some of the foreign buyers with subsidiaries here, were meeting the officials and an assessment of their views was being made. Meanwhile the futures prices remained steady through the week. Cloudy weather affected the arrivals. Exporters were seeking cover for the January contracts which was reaching maturity.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
