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G.K. Nair

Kochi April 2 Pepper futures market moved up slightly on Monday on buying support. Various sections of investors including a national cooperative were buying actively and said to have traded around 200 tonnes of NCDEX delivered pepper.

Though the market opened on a strong note it slipped later on reports that Vietnam was slightly easier and closed with marginal increase on NCDEX. On NMCE, all the contracts witnessed a substantial drop.

Arrivals in Vietnam market are expected to pick up in the coming days, market observers here told Business Line.

On NCDEX, April contract moved up by Rs 2 a quintal to close at Rs 13,847. The increase in other contracts was from Rs 4 to Rs 26 except for September, which witnessed a drop of Rs 20 a quintal.

On NMCE, April contract dropped by Rs 72 a quintal to Rs 13,305. The fall in other contracts was from Rs 28 to Rs 128 a quintal.

Spot prices up

Domestic demand continued to be good and buying activities were going on. As the truck operators are on strike the materials were being moved out in small trucks, they said.

Spot prices moved up on buying support by Rs 200 a quintal to close at Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) on Monday.

TURNOVER RISES

The total turnover on NCDEX went up by 8,715 tonnes to 34,363 tonnes, while on NMCE it moved up by 1,806 tonnes to 6,090 tonnes.

The total open interest on NCDEX increased by 2,433 tonnes to 30,355 tonnes. April position declined by 305 tonnes to 5,601 tonnes. May and June went up by 1,418 tonnes and 1,105 tonnes respectively to 14,650 tonnes and 7,106 tonnes.

On NMCE, the total open interest moved up by 77 tonnes to 4,589 tonnes. April position stood at 340 tonnes while May at 2,857 tonnes.

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