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G.K. Nair

Kochi April 3 Pepper futures market witnessed a mixed trend on Tuesday with the distant positions showing decline.

Reports of improvement in Vietnam arrivals and the consequent marginal ease in prices there, said to have reflected on the activities here in the exchanges. Besides, the announcement that the Kerala state procurement agency, Marketfed would sell 80 tonnes of pepper from its stock on Wednesday has also slowed down the buying activities, market observers told Business Line. Investors were buying NCDEX delivered.

Spot prices firm

However, good domestic demand has kept the spot prices firm. Bullish trend was seen in domestic market.

April contract on NCDEX moved up by Rs 3 a quintal to Rs 13,830. May and June went up by Rs 11 and Rs 78 a quintal, respectively, while July, August and September dropped by Rs 94,Rs 105 and Rs 89 a quintal, respectively.

On NMCE, April contract dropped by Rs 127 a quintal to Rs 13,260. The fall in other contracts was from Rs 29 to Rs 68 a quintal except May, which moved up by Rs 3 a quintal.

The total turnover on NCDEX dropped by 5,537 tonnes to 28,826 tonnes, while on NMCE it declined by 877 tonnes to 5,213 tonnes.

The total open interest on NCDEX moved up by 603 tonnes to 30,958 tonnes on Tuesday. April position dropped by 308 tonnes to 5,293 tonnes, while May and June increased by 699 tonnes and 69 tonnes, respectively, to 15,349 tonnes and 7,175 tonnes.

The total open interest on NMCE dropped by 43 tonnes to 4,546 tonnes. April position stood at 340 tonnes, while May was down by 68 tonnes to 2,789 tonnes.

Spot prices ruled steady on buying support at previous level of Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) a quintal.

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