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G. K. Nair

Kochi, March 31 Pepper futures market on Monday witnessed high volatility on confusing and conflicting reports from Vietnam on its pepper prices.

Add to this there were numerous sell calls from brokers which have resulted in some selling pressure and that in turn arrested the upward move to some extent.

Indian parity on Monday stood at $3,900-3,950 a tonne (c&f) as the Rupee has strengthened against dollar. MG 1 still remained competitive in the international market.

Vietnam reportedly quoted 500 GL at $3,450 and 550 GL at $3,620 a tonne (f.o.b.) while V Asta at $3,955 a tonne (f.o.b.). Brazil remained steady at B2 at $3,650 , B1 at $3,750 and B Asta at $3,850 a tonne (f.o.b.). Lasta was said to be at $4,050 a tonne (f.o.b.).

Buyers in the international market are still on a wait and watch mode.

April contract on NCDEX moved up by Rs 17 a quintal to close at Rs 14,603 from Rs 14,586 on Saturday. All other contracts fell marginally by Rs 18 to Rs 53 a quintal.

On NMCE April contract moved up by Rs 13 a quintal to close at Rs 14,530 from Rs 14,517. May and July dropped up by Rs 46 and Rs 72 a quintal respectively while June and August moved up by Rs 13 and Rs 61 a quintal respectively.

Total turnover on NCDEX increased by 1,588 tonnes to 7,099 tonnes while that on NMCE moved up by 566 tonnes to 1,278 tonnes.

Total open interest on NCDEX went up by 261 tonnes to 18,795 tonnes. April position fell by 43 per cent while May and June moved up by 46 per cent and 8 per cent respectively.

Total open interest on NMCE dropped by 128 tonnes to 2,106 tonnes.

Spot prices ruled steady at previous levels of Rs 14,100 (un-garbled) and Rs 14,700 (MG 1) a quintal on Monday.

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