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G K Nair

Kochi, Oct. 23 Pepper futures market continued its upward trend on good buying support. National level cooperatives and multinationals were said to be ready to buy at Rs 2 above the November level.

Spot also traded higher by Rs 400 a quintal as processors and investors were trying to buy spot pepper. Indian parity has gone up to $4,100 a tonne (c&f) and thus out priced. No overseas demand was forthcoming at this level. Lampong Asta was offered at $3,625 (f.o.b.) while B Asta at $3,500 (f.o.b.). Vietnam was not offering Asta grade. Its 500 GL was offered at $3,150 a tonne (f.o.b.). Spot prices on buying support and in tandem with the futures market trend shot up by Rs 400 a quintal on Tuesday to close at Rs 14,100 (un-garbled) and Rs 14,700 (MG 1).

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