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G. K. Nair

Kochi, March 5 Pepper futures market declined marginally on Wednesday on slow buying activities.

Processors said to have sold to investors around 300 tonne of black pepper and delivered at selected warehouses. Investors are seem to be reluctant to buy further.

Domestic buying was slow as the prices were ruling at higher levels. The Indian parity remained at $4,200 a tonne (c&f) and competitive.

In the international market, prices ruled firm. Nobody is ready to buy. Only those who had missed the bus are buying to meet their immediate commitments. It appears that the overseas players have accepted the reality that there exists a tight supply position, market sources told Business Line.

Vietnam was showing interest to sell 500 GL at $3,930 a tonne (f.o.b.) and 550 GL at $4,130. L Asta was quoted at $4,100-4,200 a tonne (f.o.b.) level. B Asta was also firm at higher levels ($4,100 (f.o.b.).

White pepper prices shot up to $6,200-6,300 a tonne in Vietnam and Indonesia.

March contract on NCDEX declined marginally by Rs 9 a quintal on Wednesday to Rs 15,664. The fall in other contracts except August was from Rs 8 to Rs 102 a quintal, while August moved up by Rs 130 a quintal.

On NMCE, March contract dropped by Rs 96 a quintal to Rs 15,110 from Rs 15,206. The drop in other contracts was from Rs 12 to Rs 78 a quintal.

Total turnover on NCDEX dropped by 6,199 tonnes to 12,560 tonnes, while that on NMCE declined by 638 tonnes to 990 tonnes.

Total open interest on NCDEX moved up by 500 tonnes to 24,847 tonnes. March, April and May moved up by 19 per cent, 64 per cent and 12 per cent respectively.

On NMCE, total open interest declined by 40 tonnes to 1,805 tonnes.

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