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G.K. Nair

Kochi, Sept. 11 Declining trend continued in the pepper futures market on Tuesday.

Prices remained competitive at lower levels and yet there were no buyers because of high volatility in the market and consequent uncertainty in the prices, market sources told Business Line. They said that the prices are falling de spite the fact that the material was available only with the exchanges.

measures.In the international market, Vietnam prices eased for FAQ 500 GL to $3,100 a tonne (fob). Brazil was offering B Asta at $3,450 a tonne (f.o.b) and B1 at $3,375 a tonne (f.o.b). Lampong Asta was at about $3,575a tonne (c&f) New York. Indian parity was at around $3,500 a tonne (c&f).

September contract on NCDEX on Tuesday dropped by Rs 94 a quintal to Rs 12,140. The decline in other contracts was by Rs 18 to Rs 175 a quintal. On NMCE, September contract moved up by Rs 15 a quintal to Rs 11,905, while January contract increased by Rs 110 a quintal. All other contracts fell by Rs 28 to Rs 263 a quintal.

The total turnover on NCDEX went up by 2,208 tonnes to 20,718 tonnes, while that for September dropped by 8 per cent. October turnover increased by 81 per cent and November by 9 per cent.

Total open interest on NCDEX fell by 829 tonnes to 22,868 tonnes. September and October positions dropped by 20 per cent and 47 per cent respectively to 4,518 tonnes and 10,702 tonnes.

On NMCE, open interest moved up by 40 tonnes to 2,339 tonnes. September and October positions were at 459 tonnes and 1,668 tonnes respectively. Spot prices in tandem with the futures market trend dropped by Rs 100 a quintal on Tuesday to close at Rs 11,900 (un-garbled) and Rs 12,500 (MG 1).

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