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G.K. Nair

Kochi, Aug 13 The pepper futures market on Wednesday moved up on bullish activities.

August contract moved up by Rs 78 a quintal to close at Rs 14,000, still Rs 300 below the spot price for MG 1. The increase in other contracts was from Rs 75 to Rs 122 a quintal.

Total turnover on NCDEX fell by 1,505 tonnes to close at 6,173 tonnes while the total open interest declined by 292 tonnes to 20,211 tonnes.

August dropped by 477 tonnes, while September and October moved up by 72 tonnes and76 tonnes respectively.

Spot availability was limited. Buyers from the domestic market were waiting for the investors to sell their validity expired goods as it was available Rs 300 below the spot prices. Spot prices were steady at the previous level of Rs 13,700 a quintal for un-garbled and Rs 14,300 a quintal for MG 1 on Wednesday.

In the global market, Vietnam was selling below the Indian and Indonesian parity at $3,400-3,500 a tonne (c&f). C&F New York prices quoted for different origins were: MG1 ASTA $3,650-3,700 a tonne; L ASTA $3,700-3,750; V ASTA $3,500; B ASTA $3,025-3,050 FOB and E ASTA $3500; MLS ASTA SPOT at $3,750 a tonne and MLS V ASTA $3,525.

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