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G.K. Nair

Kochi May 28 Pepper futures declined on Monday, as the authorities concerned have not yet shown any positive signs to consider the trade demands on the near month level limit, which will become applicable from July.

Overall, the market has shown a declining trend.

June contract on NCDEX fell by Rs 279 a quintal to Rs 13,619. The drop in other contracts was from Rs 199 to Rs 359 a quintal.

On NMCE, June contract declined by Rs 159 a quintal to Rs 13,344. The fall in other contracts was from Rs 231 to Rs 594 a quintal.

Turnover up

The total turnover on NCDEX went up by 10,778 tonnes to 25,636 tonnes while on NMCE, it moved up by 839 tonnes to 2,390 tonnes.

Total open interest on NCDEX went up by 57 tonnes to 25,535 tonnes. June and July positions declined by 59 tonnes and 18 tonnes, respectively to 12,003 tonnes and 9,177 tonnes.

On NMCE, total open interest improved by 51 tonnes to 3,365 tonnes. June position increased by 56 tonnes to 2,466 tonnes.

In tandem with the futures market trend, spot prices also declined by Rs 200 a quintal on Monday to close at Rs 13,600 (un-garbled) and Rs 14,200 (MG 1).

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