Indian parity in the international market became competitive paving the way for concluding some business with overseas buyers, and some are likely in the coming days, provided the market remains steady at the current levels.

The prices continued to head south on limited activities. There were no sellers in the physical market. In fact, some validity expired stocks and some farm grade pepper are available on the exchange platform. No sellers were there at below Rs 270 a kg, market sources told Business Line .

On Friday, July contract volatility was for nearly Rs 400 a quintal and average traded price was at Rs 27,149 a quintal. Push and pull was going on and some of the active bears have turned bulls now, they said.

Volume had fallen significantly indicating people losing interest in the market.

July contract on the NCDEX declined by Rs 62 to close at Rs 27,129 a quintal. August and September dropped by Rs 104 and Rs 72, respectively, to close at Rs 27,429 and Rs 27,731 a quintal.

Total turn over fell by 5,342 tonnes to close at 5,174 tonnes. Total open interest moved up by 126 tonnes to 12,221 tonnes.

July open interest moved up by two tonnes to 7,428 tonnes, while that of August and September went up by 85 tonnes and 39 tonnes, respectively, to 3,233 tonnes and 915 tonnes.

Spot prices remained unchanged on limited activities at Rs 26,300 (ungarbled) and Rs 27,300 (MG 1) a quintal.

Indian parity in the international market was at $6,400 a tonne (c&f) Europe and $6,500 a tonne (c&f) USA and remained very much competitive. In fact, it would have been more cheaper, but for the continuous strengthening of the rupee against the dollar in recent days on a strong stock market, they said. Reports from Vietnam said its pepper market firmed up today on good buying support from China. Prices for Lampong ASTA quality indicated today at $ 6,600-$6,650 FOB levels.

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