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G. K. Nair

Kochi, Feb. 8 Pepper futures market dropped on Friday on improvement in arrivals and slow domestic demand.

The increase in arrivals is attributed to tightening of the check posts on Kerala borders by the sales tax department. However, the arrivals, at present, are at 75 to 100 tonnes a day as against the maximum of 250-300 tonne during the peak season time, trading sources said.

On the other hand, severe cold conditions in north India has kept the buyers away from the market and that in turn led to a slow down in domestic demand, market sources told Business Line. Activities in the world market are very limited.

February contract on NCDEX on Friday dropped by Rs 178 a quintal to close at Rs 14,551 from Rs 14,729. The fall in other contracts was from Rs 169 to Rs 232 a quintal.

On NMCE February contract fell by Rs 189 a quintal to close at Rs 14,305 from Rs 14,494. The drop in other contracts except June was from Rs 32 to Rs 197 a quintal. June moved up by Rs 56 a quintal.

Spot prices also dropped by Rs 100 a quintal on slow domestic demand and increased arrival to close at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) on Friday.

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