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G.K. Nair

Kochi, Aug. 10 The pepper futures market witnessed high volatility on Friday on bearish activities and moved up marginally at the day’s close.

There were no ready sellers. Prices at the other origins reportedly ruled steady at previous levels.

Buyers were waiting and watching. Indian parity dropped to $3,650-$3,675 a tonne (c&f) and still remained competitive.

August contract on NCDEX moved up by Rs 42 a quintal on Friday to Rs 12,775. All the other contracts except December went up by Rs 25 to Rs 49 a quintal. December declined by Rs 22 a quintal. On NMCE, August contract increased by Rs 89 a quintal to Rs 12,780. All the other contracts except October which moved up by Rs 33, dropped by Rs 18 to Rs 275 a quintal.

Total turnover on NCDEX dropped by 1,044 tonnes to 26,861 tonnes while on NMCE, it moved up by 266 tonnes to 1,798 tonnes.

Total open interest on NCDEX fell by 783 tonnes to 25,132 tonnes. August and September positions dropped by 354 tonnes and 889 tonnes, respectively to 4,696 tonnes and 12,067 tonnes. October moved up by 207 tonnes to 5,381 tonnes. Spot prices continued to rule steady at previous levels at Rs 12,900 (ungarbled) and Rs 13,500 (MG 1) a quintal on Friday.

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