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G.K. Nair

Kochi, Sept. 19 The pepper futures, which bounced back on Tuesday, witnessed a fall on Wednesday.

When the prices at other origins ruled firm there was no reason for pushing down the prices, market observers told Business Line.

In the international market on Wednesday, Vietnam was said to be steady. It was offering FAQ 500 GL at $3,150 and FAQ 550 GL at $3,300 a tonne (f.o.b).

Indonesia reported to have quoted L Asta at $3,400-$3,450 a tonne (f.o.b.), while white pepper was quoted at $4,525 a tonne (f.o.b).

All the contracts dropped with the nearby positions falling below spot price.

September contract, on NCDEX, on Wednesday dropped by Rs 182 a quintal to Rs 12,000. The drop in other contracts was from Rs 107 to Rs 232 a quintal.

On NMCE, October contract fell by Rs 232 a quintal to t Rs 12,000. The fall in other contracts was from Rs 15 to Rs 220 a quintal.

The total turnover, on NCDEX, increased by 2,806 tonnes to 16,673 tonnes. October and November turnover increased by 1,662 tonnes and 1,558 tonnes, respectively while September dropped by 34 tonnes.

On NMCE, total turnover moved up by 198 tonnes to 1,556 tonnes.

Total open interest, on NCDEX, moved up by three tonnes to 22,379 tonnes. September and October positions dropped by 11 per cent and 46 per cent, respectively, while November position increased by 26 per cent.

Open interest on NMCE increased by 74 tonnes to 1,676 tonnes. October position dropped by 20 tonnes to 1,117 tonnes.

Spot prices in tandem with the futures market trend dropped by Rs 100 a quintal to close at Rs 11,800 (un-garbled) and Rs 12,400 (MG 1) on Wednesday.

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