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G.K. Nair

Kochi, July 2 The pepper futures market stabilised on Thursday and increased marginally on tight supply position.

Ready suppliers were limited. There was no demand from domestic or overseas market, sources told Business Line. Domestic buyers were inactive.

The rains during the past couple of days appear to have eliminated the fear of a drought-like condition in the pepper growing areas and that, in turn, has created a positive sentiment in the market.

July contract moved up by Rs 63 on NCDEX to close at Rs 12,495 a quintal.

August went up by Rs 54 to close at Rs 12,635 a quintal while September dropped by Rs 51 a quintal to close at Rs 12,782.

Total turnover on NCDEX dropped by 1,272 tonnes to close at 1,360 tonnes. Total open interest declined by 11 tonnes to 6,623 tonnes. July open interest fell by 113 tonnes while that of August and September moved up by 88 tonnes and 11 tonnes, respectively.

Spot prices remained unchanged at previous levels of Rs 12,000 (un-garbled) and Rs 12,500 (MG 1) a quintal.

More Stories on : Spices & Condiments | Kerala

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