The Hindu Business Line : Pepper futures gain on buying support

Exporters were covering from the terminal as well as the primary markets. There was good buying from the exchanges also. Export demand was said to be present, market sources told Business Line. Pepper remained firm as spot, physical pepper supply situation was tight, they pointed out.

Indian parity on Friday stood at $3,950 a tonne (c&f) and all others such as Indonesia and Vietnam were also offering at the same level, they added.

CONTRACT POSITION

February contract on NCDEX increased on Friday to close at Rs 14,773 on Thursday. The increase in other contracts was from Rs 319 to Rs 363 a quintal.

On NMCE, February contract went up by Rs 346 a quintal to Rs 14,630. The increase in other contracts was from Rs 237 to Rs 342 a quintal.

Turnover up

Total turnover on NCDEX went up by 5,762 tonnes to 12,719 tonnes, while that on NMCE, it moved up by 557 tonnes to 1,124 tonnes.

Total open interest on NCDEX increased by 529 tonnes to 22,892 tonnes. February position dropped by 17 per cent, while March and April moved up by 63 per cent and 14 per cent, respectively.

On NMCE, total open interest moved up by 28 tonnes to 1,694 tonnes.

Spot up

Spot prices on good buying support moved up by Rs 200 a quintal on Friday to close at Rs 13,800 (un-garbled) and Rs 14,400 (MG 1).

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