The pepper market showed a mixed trend on Friday with the December delivery dropping sharply in limited activities while the other active contracts moving up on some buying interest.
“Bear operators control over the market today,” market sources told Business Line. Activities were limited as is evident from the sharp fall in turnover.
Arrivals from the primary markets continued to be negligible as whatever new pepper arriving at present is being picked up by Sabarimala pilgrims, primary market dealers claimed.
Availability of physical pepper on the ready market in Kerala and Karnataka continued to be tight, they said.
December contract on NCDEX decreased by Rs 980 a quintal to close at Rs 38,930 a quintal. February and March increased by Rs 60 and Rs 245 respectively to close at Rs 33,625 and Rs 33,545 a quintal.
Total turnover fell by 2,479 tonnes to close at 1,435 tonnes. Total open interest decreased by 182 tonnes to close at 5,594 tonnes.
December open interest declined by 236 tonnes to 2,776 tonnes while that of Feb and Mar moved up by 38 tonnes and 7 tonnes respectively to close at 2,253 tonnes and 507 tonnes.
Spot prices in tandem with the futures market trend declined by Rs100 to close at Rs37,200 (ungarbled) and Rs38,700 (MG1 ) a quintal.
Indian parity in the international market was at $ 7,400 a tonne (c&f) for Europe and $7,700 a tonne (c&f) for the US.
Keywords: pepper futures,