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G.K. Nair

Kochi, Nov 14

Pepper futures market on Wednesday moved up marginally on buying support.

International market was by and large steady at previous levels. Indian pepper remained out-priced and, hence, no fresh buying was not forthcoming, market sources told Business Line.

November contract on NCDEX on Wednesday moved up by Rs 32 a quintal to Rs 13,928. The increase in other contracts except for May was from Rs 8 to Rs 57 a quintal, while May dropped by Rs 237 a quintal.

On NMCE, November contract remained at Tuesday’s level at Rs 13,955 a quintal. Dec and Jan contracts moved up by Rs 75 and Rs 53 a quintal respectively, while Feb and Mar fell by Rs 368 and Rs 234 a quintal respectively.

Total turnover on NCDEX fell by 4,255 tonnes to 16,667 tonnes, while that for Nov, Dec and Jan dropped by four per cent, 82 per cent and 10 per cent respectively.

On NMCE, total turn over declined by 610 tonnes to 1,935 tonnes.

Total open interest on NCDEX moved up by 180 tonnes to 21,309 tonnes. November and December positions dropped by nine per cent and 56 per cent while January moved up by 22 per cent.

On NMCE total open interest declined by 72 per cent to 2,029 tonnes.

Spot prices ruled steady at Tuesday’s level of Rs 13,400 (un-garbled) and Rs 14,000 (MG 1) a quintal on Wednesday.

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