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G K Nair

Kochi, Dec. 12 The pepper futures market on Wednesday witnessed mixed trend after experiencing high volatility during the day.

Those holding positions in December and January went for liquidation as a result there was a decline of around 600 tonne. Spot availability was very much limited.

It is also alleged that Brazilian bold berries, separated by sieving, are entering the domestic market in north India.

Indian parity on Wednesday was steady at $3,500 a tonne (c&f). Vietnam has quoted V Asta at $3,530 a tonne (f.o.b.) while FAQ 500 GL was being offered at $3,030 and 550 GL at $3,210 a tonne (f.o.b.).

Brazil was quoting B Asta at $3,150 a tonne (f.o.b.) Belem. B1 and B2 at $3,075 and $3,000 a tonne (f.o.b.) respectively Belem.

Indonesia was offering LAsta at $3,275-3,300 a tonne (f.o.b.). Sellers there are said to be ready to sell at $3,300-3,350 a tonne (c&f) Kochi.

December contract on NCDEX moved up by Rs 20 a quintal on Wednesday to close at Rs 12,675 from Rs 12,655. January, February and March also moved up by Rs 9,10 and 9 respectively. April, May and June dropped by Rs 2, Rs 36 and Rs 240 a quintal.

On NMCE December increased by Rs 121 a quintal to close at Rs 12,675 from Rs 12,554. All other contracts fell by Rs 32 to Rs 275 a quintal.

Total turnover on NCDEX on Wednesday fell by 1,485 tonne to 10,518 tonne. December and January turnover dropped by 11 per cent and74 per cent respectively.

On NMCE total turnover declined by 237 tonne to 1,119 tonne.

Total open interest on NCDEX fell by 591 tonne to 19,060 tonne. December and January positions declined by 19 per cent and 52 per cent while February moved up by 16 per cent.

Spot prices ruled steady at previous levels at Rs 12,500 (un-garbled) and Rs 13,100 (MG 1) on Wednesday.

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