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G.K. Nair

Kochi, Aug 1 Pepper futures market on Friday moved up on bullish sentiments and tight supply position.

On NCDEX, Aug contract moved up by Rs 102 a quintal to close at Rs 14,316 on Friday, while on NMCE it went up by Rs 83 a quintal to close at Rs 14,155. Other contracts on NCDEX increased by Rs 40 to Rs 199 a quintal.

On NMCE they moved up by Rs 20 to Rs 147 a quintal.

Bull speculators were liquidating. Selected processors were ready to sell at Rs 1.50 above the Aug price at Rs143 a kg while the buyers were ready to offer only Rs 142.50 a kg.

Spot prices moved up by Rs 100 a quintal on good domestic demand to close at Rs 13,800 (ungarbled) and Rs 14,400 (MG 1) a quintal on Friday.

Total turnover on NCDEX dropped by 2,071 tonne to 5,523 tonne. August, September and October turnover dropped by 611 tonne, 1,266 tonne and 116 tonne respectively.

Total Open interest declined by 102 tonne to 19,824 tonne. August and October declined by 36 per cent and 15 per cent, while September was up by 6.42 per cent.

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