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G. K. Nair

Kochi, Oct. 19 Pepper futures market on Friday declined on liquidation by October and November by position holders.

Add to this there was a feeling in the players that no fresh buying is likely to come in the coming days as the Indian pepper has become out priced. Indian parity is at $3,750-3,800 a tonne (c&f). October contract on NCDEX declined on Friday by Rs 19 a quintal to close at Rs 13,820 from Rs 13,839 on Thursday. The other contracts fell by Rs 142 to Rs 217 a quintal.

On NMCE, November contract dropped by Rs 204 a quintal to close at Rs 13,900 from Rs 14,104. The fall in other contracts was from Rs 185 to Rs 226 a quintal.

Total turnover on NCDEX increased by 1,217 tonnes to 12,785 tonnes, while that for October and December increased by 6 per cent and 35 per cent respectively. November turn over dropped by 57 per cent. On NMCE total open interest declined by 118 tonnes to 1,523 tonnes. November position declined by 57 tonnes to 542 tonnes.

Spot prices also dropped by Rs 100 a quintal on Friday to close at Rs 13,300 (un-garbled) and Rs 13,900 (MG 1).

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