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G K Nair

Kochi June 1 Pepper declined marginally on Friday following reports of fall in Vietnam prices despite some buying support.

There was demand coming in. Processors were actively buying un-garbled at Rs 13,700 - 14,000 a quintal for processing.

Strengthening of rupee on Friday against dollar pushed up the Indian parity.

Meanwhile, unconfirmed reports that export subsidy would be made available have also activated the market.

Vietnam FAQ 500 GL was reportedly down by $200 a tonne to $3,550 (f.o.b.), while 550 GL was being offered at $3,770 a tonne (f.o.b.).

Indonesia has quoted L Asta at $3,900 a tonne (f.o.b.). Brazil was offering B Asta and B1 at $3,850 and $3,700 a tonne (f.o.b.).

Indian parity was at $3,850 - $3,900 a tonne (c&f).

FUTURES DECLINE

June contract on NCDEX fell by Rs 115 a quintal to Rs 13,904.

The drop in other contracts except November was from Rs 5 to Rs 90 a quintal.

November was up by Rs 29 a quintal.

On NMCE, June contract declined by Rs 31 to Rs 13,678. July dropped by Rs 50.

All other contracts moved up by Rs 48 to Rs 187 a quintal.

Turnover up

Total turnover on NCDEX shot up by 12,368 tonnes to 33,370 tonnes, while on NMCE it moved up by 1,704 tonne to 3,374 tonnes.

Total open interest on NCDEX increased by 528 tonnes to 26,042 tonnes.

July position fell by 405 tonnes to 10,186 tonnes, while July and August moved up by 508 tonnes and 370 tonnes respectively to 10,007 tonnes and 3,995 tonnes.

Open interest

On NMCE, the total open interest increased by 189 tonnes to 3,670 tonnes. June position improved by 170 tonnes to 2,705 tonnes.

Spot prices

Spot prices ruled steady at previous level of Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) a quintal on Friday.

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