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A mixed trend was seen in pepper prices on Thursday with January contracts moving up marginally and February dropping on limited activities.
However, the total open interest increased, indicating additional purchases while the total volume fell sharply.
Some of the exporters who have orders are said to have covered small quantities which pushed up the prices of January and March albeit marginally. But, despite positive open interest for February, the prices dipped, market sources told Business Line .
January contract on the NCDEX moved up by Rs 25 to close at Rs 32,655 a quintal. February fell by Rs 195 a quintal to close at Rs 32,415 while March increased by Rs 125 to close at Rs 32,100 a quintal.
Total turnover decreased by 3,324 tonnes to end at 2,179 tonnes. Total open interest increased by 198 tonnes to close at 9,555 tonnes showing good purchases.
January, February and March open interest moved up by 47 tonnes, 64 tonnes and 39 tonnes respectively to close at 7,074 tonnes, 1,172 tonnes and 730 tonnes.
Spot prices remained unchanged at previous levels of Rs 31,900 (ungarbled) and Rs 33,400 (MG 1) a quintal on limited activities.
The overseas market remained, by and large, closed and there were some fishing in the holiday markets. All other origins are also inactive, trade sources said. The US and European markets are expected to become active from January 4 or 5, 2012, they said.
Indian parity was at around $6,550 a tonne (c&f) for Europe and $6,850 a tonne (c&f) for the US.
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