The Hindu Business Line : Pepper futures rise a tad

However, there was not much activity. The turnover also moved up only 81 tonnes. It gives the impression that the people are losing interest in the futures market. High fluctuations and onslaught on the market, of late, has driven the small and medium players away from the market, market sources told Business Line. Investors who were selling their validity expired stock at a discount of Rs 200-300 a quintal have reduced it to Rs 100 and at this rate there were no buyers. They were of the opinion that instead of buying it at the offering rate from the investors they could buy futures.

Now, most of the Kerala-based brokers said that their Dec position was full. Buyers have now adopted a wait and watch approach.

On NCDEX, Dec contract moved up by Rs 30 a quintal to Rs 11,672. Jan and Feb went up by Rs 48 and Rs 8, respectively, to Rs 11,780 and Rs 11,835 a quintal.

Turnover up

Total turnover moved up marginally by 81 tonnes to 2,708 tonnes. Total open interest dropped by 130 tonnes to 11,439 tonnes. Dec net open position fell by 196 tonnes to 5,763 tonnes while Jan declined by 53 tonnes to 4,635 tonnes. Feb moved up by 96 tonnes to 636 tonnes.

Spot prices remained unchanged at Saturday’s level of Rs 11,300 (un-garbled) and Rs 11,800 (MG 1).

International market is quiet as the buyers are waiting and watching. The price trend in other origins would be known on Tuesday. Indian parity remained at $2,625-2,625 a tonne (c&f).

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