The Hindu Business Line : Pepper futures move up on buying support

National level Cooperatives were buying MG 1 NCDEX delivered at November prices. The processors who had sold are also buying from the primary markets. These factors have influenced the futures market prices, market sources told Business Line.

International market is quiet. Indonesia is on holidays. Brazil and Vietnam are yet to open after the weekend holidays.

The domestic demand continues to be good and it is met by direct supplies from the border areas of pepper growing districts of Kerala by evading tax.

Harvesting of the current crop is likely to be delayed because of the incessant rains in September. The crop is said to be lower than that of the previous crop.

Turnover up

October contract on NCDEX on Monday moved up by Rs 77 a quintal to Rs 13,840. The increase in other contracts was from Rs 61 to Rs 179 a quintal.

On NMCE, October contract dropped by Rs 100 a quintal to Rs 13,500. Other contracts except November moved up by Rs 2 to Rs 116 a quintal. November contract declined by Rs 6 a quintal.

Spot prices ruled steady at previous levels on Monday at Rs 13,400 (un-garbled) and Rs 14,000 (MG 1) a quintal.

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