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G K Nair

Kochi, Oct. 4 Pepper futures market dropped on Thursday on bearish activities and the latest circular by the NCDEX on the penalty structure.

In the international market pepper prices at all the other origins ruled steady to firm. Brazil was offering B1 at $3,125 a tonnes (f.o.b.) and B Asta at $3,175 a tonnes (f.o.b.). Lampong Asta remained unchanged at $3,300 a tonnes (f.o.b.). Vietnam was reportedly not offering Asta grade.

October contract on NCDEX dropped by Rs 138 a quintal on Thursday to Rs 12,185. The fall in other contracts was from Rs 19 to Rs 156 a quintal.

On NMCE October contract fell by Rs 149 to Rs 12,135. The fall in other contracts was from Rs 137 to Rs 244 a quintal.

The total turnover on NCDEX moved up by 1,501 tonnes to 17,085 tonnes, while that for October declined by 12 per cent. November turnover increased by 74 per cent.

On NMCE total turnover moved up by 321 tonnes to 1,766 tonnes.

Total open interest on NCDEX went up by 394 tonnes to 19,735 tonnes. October position declined by 34 per cent, while November and December moved up by 40 per cent and 18 per cent.

On NMCE total open interest moved up by 27 tonnes to 2,040 tonnes. October position declined by 34 tonnes to 1,012 tonnes.

Spot prices moved up by Rs100 a quintal on buying interest on Thursday to Rs11,900 (un-garbled) and Rs12,500 (MG 1).

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