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G.K. Nair

Kochi, Feb. 29 Pepper futures market continued its upward run on Friday on high speculation based on the sharp rise in Vietnam pepper. Investors were active selling futures and buying exchange delivered pepper.

Indian parity touched $4,250 a tonne (c&f). Vietnam was reportedly quoting FAQ 500 GL at $4,200 a tonne (fob) and 550 GL above $4,300 a tonne (fob). It was not offering Asta grade.

The rising trend in the prices has slowed down the domestic demand here, market sources told Business Line.

March contract on NCDEX shot up by Rs 204 a quintal on Friday to Rs 15,962. The increase in all other contracts except June was from Rs 183 to Rs 510 a quintal. June declined by Rs 214 a quintal.

On NMCE, March contract moved up by Rs 145 a quintal to Rs 15,500. The rise in other contracts except August was from Rs 110 to Rs 181 a quintal. August dropped by Rs 98 a quintal.

Spot prices, in tandem with the futures market trend, increased by Rs 100 a quintal on Friday to close at Rs 14,800 (un-garbled) and Rs 15,400 (MG 1).

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