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G.K. Nair

Kochi, Jan. 23

Pepper futures market witnessed high volatility on Wednesday and closed marginally down, despite good buying support.

Exporters as well as the domestic players were buying spot. Cold wave in the North India is likely to create some more pressure to buy, market sources told Business Line.

Indian parity remained at $4,000 a tonne (c&f). Prices of other origins are also at our levels now, they said. Since India is the main available source for Asta grade some demands are likely to come in the coming days, they said, adding that overall production in the country is reportedly at low.

February contract, on NCDEX, on Wednesday declined by Rs 27 a quintal to Rs 14,720. The drop in all other contracts except June was from Rs 75 to Rs 193 a quintal. June moved up by Rs 242 a quintal. On NMCE, February contract dropped by Rs 27 a quintal to Rs 14,590. All other contracts fell by Rs 15 to Rs 255 a quintal. Total turnover on NCDEX dropped by 3,707 tonnes to 15,201 tonnes.

Spot prices also declined by Rs 100 a quintal on increase in arrivals on Wednesday to close at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1).

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