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G.K. Nair

Kochi, Feb.10 Pepper futures fell on Tuesday on liquidation by investors, which created a selling pressure.

February contract dropped by Rs 161 on NCDEX to Rs 11,658 a quintal. March and April fell by Rs 196 and Rs 184, respectively, to Rs 11,475 and Rs 11,497 a quintal.

Selling pressure was created as investors were liquidating validity-expired stocks at Rs 300 and even more below the February price on the apprehension that prices may decline. “In fact, whatever discount was sought had been accepted and good quantity was traded on Tuesday,” market sources told Business Line.

Total turnover on NCDEX declined by 370 tonnes to 3,051 tonnes. Total open interest dropped by 47 tonnes to 8,395 tonnes. NOP for February fell by 111 tonnes to 2,657 tonnes, while that of March and April moved up by 28 tonnes and 32 tonnes, respectively, to 4,307 tonnes and 1,161 tonnes. Spot prices declined by Rs 100 a quintal to close at Rs 11,300 (un-garbled) and Rs 11,800 (MG 1) in tandem with the futures market trend.

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