The pepper market witnessed a mixed trend on Tuesday with December moving up while other active contracts showing a decline. Consequently, two active contracts ended below the previous day’s closing.
December contract moved up as long position holders were holding on to their position while short position holders liquidated. Activities were very much limited, market sources told Business Line.
They said three tonnes of farm grade pepper arrived at the terminal market and that was traded at Rs 365 a kg. Small quantities of new pepper were reported to have started trickling in the primary markets.
December contract on the NCDEX increased by Rs 350 a quintal to close at Rs 38,770 a quintal. February and March dropped by Rs 145 and Rs 200 respectively to close at Rs 34,230 and Rs 33,675 a quintal.
Total turnover decreased by 1,860 tonnes to close at 1,865 tonnes. Total open interest fell by 164 tonnes to close at 7,308 tonnes.
December open interest dropped by 256 tonnes to 4,762 tonnes while February moved up by 93 tonnes to 2,130 tonnes. March declined by just one tonne to close at 359 tonnes.
Spot prices remained steady at previous levels of Rs 37,200 (ungarbled) and Rs 38,700 (MG 1) a quintal on limited activities.
Indian parity in the international market remained unchanged at $7,300 a tonne (c&f) for Europe and $7,600 a tonne (c&f) for the US, they said.