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G.K. Nair

Kochi , Nov. 14

Declining trend continued in pepper futures on Tuesday for want of buying support and reduction in the prices of other origins.

The November contract on NCDEX dropped by Rs 155 to close at Rs 10,325 a quintal. The drop in other positions was from Rs 133 to Rs 289 a quintal.

On the NMCE, November contract fell by Rs 400 a quintal to close at Rs 9,800. The drop in other positions was from Rs 67 to Rs 192 a quintal.

The total turnover on NCDEX on Tuesday fell by 1,486 tonnes to 12,248 tonnes, while on the NMCE it moved up by 7 tonnes to 3,230 tonnes.

Open interest slips

The total open interest on the NCDEX was down by 147 tonnes to 23,262 tonnes. The open interest for November dropped by 477 tonnes to 3,808 tonnes, while the December position increased by 145 tonnes to 13,579 tonnes from 13,434 tonnes on Monday. On the NMCE, the December position increased by 139 tonnes to 4,160 tonnes from 4,021 tonnes.

The spot prices also dropped by Rs 100 a quintal to close at Rs 10,100 (un-garbled) and Rs 10,700 (MG 1) on Tuesday.

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