Pepper market fell on liquidation by bull operators on Tuesday. November contract was floored in terms of last traded price while other active contracts declined marginally from that of the previous day’s closing.
The last traded price for November, which matured today was at Rs 38,975 a quintal, down by 3 per cent. The market fell on liquidation by operators holding huge stocks.
Staggered delivery
Market sources said 302 tonnes were marked for staggered delivery today and with this the total quantity marked for delivery under the staggered delivery system increased to 1,642 tonnes.
Thus, in the November contract to liquidate 97 tonnes, the market was brought down by Rs 1,135 a quintal. Similarly, 81 per cent of the turnover was in December and still the net open position was down by only one tonne.
On the spot, seven tonnes of farm grade pepper arrived and of this, five tonnes were traded.
November contract on NCDEX decreased by Rs 1,135 a quintal to close at Rs 39,045 a quintal. December and February declined by Rs 90 each per quintal to close at Rs 39,065 and Rs 36,280 a quintalrespectively.
Turnover
Total turnover increased by 181 tonnes to close at 3,188 tonnes. Total open interest fell by 365 tonnes to 8,164 tonnes.
Nov open interest decreased by 399 tonnes to close at 201 tonnes while December declined by one tonne to 6,538 tonnes. Feb rose by 28 tonnes to close at 1,172 tonnes.
Prices on the spot remained unchanged at Rs 38,200 (ungarbled) and Rs 39,700 (garbled) a quintal on limited activities.
In the international market, Malabar continued to remain nearly $1,000 a tonne above other origins at $7,500 a tonne and stayed outpriced. “In fact, the gambling on the exchange has made Malabar Garbled a laughing stock in the world market,” the market sources alleged.