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G K Nair

Kochi May 10 Pepper futures market on Thursday declined on reported easing of prices in Vietnam by $50-100 a tonne.

Brazil also said to have reduced its prices in line with the Vietnamese trend.

Weakening of Indian rupee also kept the prices lower. Indian Asta grade on Thursday was at $3,975 a tonne (c&f) for US, while for Europe it was at $3,900 a tonne (c&f).

May contract on NCDEX fell by Rs 227 a quintal on Thursday to close at Rs 14,772 from Rs 14,999 on Wednesday. The drop in other contracts was from Rs 251 to Rs 438 a quintal.

On NMCE May contract dropped by Rs 322 a quintal to close at Rs 14,350 from Rs 14,672. The fall in other contracts was from Rs 219 to Rs 364 a quintal.

Turnover dips

The total turnover on NCDEX fell by 16,334 tonnes to 26,268 tonnes, while on NMCE it declined by 1,383 tonnes to 3,287 tonnes.

The total open interest on NCDEX moved up by 670 tonnes to 30,163 tonnes. May position dropped by 279 tonnes, while June and July increased by 750 tonnes and 212 tonnes respectively to 18,781tonnes and 3,647 tonnes.

On NMCE, the total open interest went up by 115 tonnes to 4,916 tonnes. May position was at 1,882 tonnes, while June increased by 124 tonnes to 2,475 tonnes.

Spot prices

Spot prices ruled steady on Thursday at previous levels of Rs 14,100 (un-garbled) and Rs 14,700 (MG 1) a quintal.

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