The pepper market continued its northward run on Thursday on tight availability and limited activities. All the active contracts moved up from the previous closing.

Those having sales were seen trying to switchover. While long position holders were allegedly buying and selling within the group, market sources told Business Line.

So far 13 tonnes have been tendered for delivery under the staggered delivery system, they said.

Domestic buyers are reportedly inactive following the rise in prices.

No arrivals were there from the farm gate and hence physical pepper availability was almost nil.

There were buyers for 500 GL at Rs 395 a kg, 550 GL at Rs 400 a kg and High Range pepper at Rs 405 and Rajkumari pepper at Rs 408 a kg but no sellers were claimed to be seen.

September contract on the NCDEX increased by Rs490 a quintal to the last traded price (LTP) of Rs 42,300 a quintal. October and November were up by Rs 250 and Rs 195 respectively to the LTP of Rs 43,310 and Rs 43,190 a quintal.

Total turnover dropped by 241 tonnes to 1,505 tonnes. Total open interest moved up marginally by 18 tonnes to 7,067 tonnes.

Spot prices in tandem with the futures market and tight supply position by Rs300 a quintal to close at Rs39,500 (ungarbled) and Rs41,000 (garbled) a quintal.

Indian parity in the international market was at $7,950 a tonne (c&f) for the Europe and $8,250 a tonne for the US and remained much above other origins.

(This article was published on September 13, 2012)
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