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G.K. Nair

Kochi, Sept. 12 Pepper futures market moved up on Wednesday on some buying support. Some 30 tonnes of graded pepper is said to have been traded in spot and that have influenced the futures market, market sources told Business Line.

Indian parity has moved up to $3,500-3,550 a tonne on Wednesday partially due to a stronger rupee against the dollar. Vietnam has reduced the prices of 500 GL to $3,000 a tonne (f.o.b) and 550 GL to $3,150 a tonne (f.o.b).It has quoted white pepper at $4,800 a tonne (f.o.b). Brazil and Indonesian prices for Asta grade reportedly ruled steady at previous levels. B Asta was quoted at $3,400 a tonne (f.o.b) and L Asta at $3,575 a tonne (f.o.b).

The September contract on NCDEX moved up by Rs 91 a quintal on Wednesday to Rs 12,240. The increase in other contracts was from Rs 29 to Rs 120 a quintal.

On NMCE, September contract increased by Rs 160 a quintal to Rs 12,050. The increase in other contracts except February was from Rs 53 to Rs 177 a quintal. The February contract dropped by Rs 187 a quintal to close at Rs 12,701.

Total turnover on NCDEX fell by 7,428 tonnes to 13,290 tonnes, while that of September and October dropped by 5 per cent and 81 per cent. On NMCE total turnover dropped by 700 tonnes to 2,021 tonnes.

Total open interest on NCDEX moved up by 154 tonnes to 23,022 tonnes.

September position declined by 19 per cent while October and November moved up by 47 per cent and 19 per cent respectively.

Total open interest on NMCE moved up by 8 tonnes to 2,345 tonnes.

September and October positions were at 454 tonnes and 1,670 tonnes respectively.

Spot prices ruled steady at previous levels on Wednesday at Rs 11,900 (un-garbled) and Rs 12,500 (MG 1) a quintal.

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