The Hindu Business Line : Pepper futures gain

Kochi, Sept.4 Pepper futures market shot up on Tuesday after witnessing sharp fall the past two days following reports of increase in prices in Indonesia and Brazil.

Prices in the Indonesian local markets have gone up and L Asta was being offered at $3,600 a tonne (f.o.b). Brazil said to have quoted B Asta at $3,400 a tonne (f.o.b). Vietnam was slow and offering V Asta at $3,450 a tonne (f.o.b).

September contract on NCDEX moved up by Rs 477 a quintal on Tuesday to close at Rs 12,386 from Rs 11,909 on Monday. The increase in other contracts was from Rs 409 to Rs 542 a quintal.

On NMCE September contract went up by Rs 298 a quintal to Rs 12,200 from Rs11,902. The increase in other contracts was from Rs 251 to Rs 525 a quintal.

On NMCE the total turnover dropped by 202 tonne to 2,864 tonne.

There was no trading on spot on Tuesday being holiday.

The prices remained at previous levels at Rs11,900 (un-garbled) and Rs 12,500 (MG 1) a quintal.

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