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G K Nair

There has been no activity in the global market as all the players are waiting for the prices to drop after the Vietnam market reopens.

Kochi, Feb. 15 Pepper futures market moved up on bullish activities on Thursday.

Absence of spot selling coupled with investor buying had pushed up the futures prices.

NCDEX delivered MG 1 was sold at Rs 126.50 a kg on Thursday.

The international market was without any activity as all the players are waiting for the prices to drop after the Vietnamese market reopens.

On NCDEX, February contract moved up by Rs 188 on Thursday to close at Rs 12,515from Rs 12,327 on Wednesday. The increase in other contracts was from Rs 240 to Rs 295 a quintal.

On NMCE, February contract matured. March was up by Rs 222 to Rs 12,369from Rs 12,147 a quintal. The increase in other contracts was from Rs 89 to Rs 233 a quintal.

Turnover dips

The total turnover on NCDEX dropped by 853 tonnes to 26,260 tonnes on Thursday, while on NMCE, it fell by 1,776 tonnes to 3,724 tonnes.

The total open interest on NCDEX increased by 991 tonnes to 29,316 tonnes. Feb position fell by 421 tonnes to 1,289 tonnes, while Mar increased 542 tonnes to 17,088 tonnes.

On NMCE, the total open interest declined by 3 tonnes to 4,897 tonnes of which Mar contract stood at 4,147 tonnes.

Spot prices in tandem with the futures market trend moved up by Rs 100 a quintal on Thursday to close at Rs 11,800 (un-garbled) and Rs 12,400 (MG 1).

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