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G.K. Nair

Kochi, Aug 6 Pepper futures market continued to witness high volatility with the prices moving up and down on Wednesday and closing marginally above the Monday prices. August contract moved up by Rs 66 to close at Rs 14,185 a quintal, while the increase in other contracts was from Rs 3 to Rs 72 a quintal on NCDEX.

Total turnover increased by Rs 1,159 tonne to close at 7,893 tonne. Total open interest declined by 189 tonnes to 19,584 tonnes. Aug and Oct positions were down by 30 per cent and 18 per cent respectively. Sep was, however, up by 44 per cent. There was no international support. Indian parity continued to remain out priced at $3,600 a tonne (c&f).

Surprisingly, August price has become cheaper than the ready pepper (MG1). Aug delivery is at Rs 14,185 as against the MG 1 price of Rs 14,500 a quintal, almost three rupees cheaper. The low prices of Aug might be because of the “substandard material delivered,” sources said.

On the other hand, the domestic demand is good and it is expected to move up in the coming days .

In the international market there wasn’t much activity and the prices of all other origins ruled steady at Monday’s levels.

Spot prices went up by Rs 100 a quintal on Wednesday to close at Rs 13,900 (un-garbled) and Rs 14,500(MG 1).

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