Pepper futures on Monday continued their northward run on reports of limited availability in the global market and reports of a firm Vietnam market.

Vietnam has reportedly quoted 500 GL at $6,900-$7,100 a tonne (f.o.b.) and the Asta grade at $7,700-$7,800 a tonne. White pepper ruled at $9,800 a tonne.

All the contracts moved up. Spot prices hit the highest-ever price of Rs 305 a kg for ungarbled and Rs 315 a kg for MG 1.

The market was volatile as usual and touched the lowest price of the day in the opening and forenoon sessions but in the afternoon hit the highest price and declined to close above the previous day close.

There was liquidation in September, switching over in October and additional buying.

Given the sharp rise, buyers all over the world are said to be nervous, market sources told Business Line .

September contract on the NCDEX increased by Rs 245 a kg to close at Rs 33,473 a quintal.

October and November contracts moved up by Rs 279 and Rs 277, respectively, to close at Rs 34,129 and Rs 34,513 a quintal.

Total turnover went up by 313 tonnes to 7,412 tonnes. Total open interest moved up by 183 tonnes to 11,786 tonnes.

September open interest dropped by 465 tonnes to 7,133 tonnes, while that of October and November increased by 605 tonnes and 40 tonnes, respectively, to 4,116 tonnes and 352 tonnes.

Spot prices rose by Rs 200 on buying support to close at Rs 30,500 (ungarbled) and Rs 31,500 (MG 1) a quintal.

Indian parity in the international market moved up further to $7,550 -$7,600 a tonne (c&f) and remained competitive, they said.

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