Pepper Future Regains

Kochi: The pepper futures market got well on insider information that the decision to introduce increased margin for both buyers and sellers has been deferred. In the international market, Vietnam was said to be slightly softer. Short sellers were reportedly covering. Indonesia is said to have quoted Lampung Asta at $3,950 a tonne (c&f). April contract on NCDEX on Monday shot up by Rs 365 a quintal to Rs 15,460 last April 15. The increase in other contracts was from Rs 469 to Rs 533 a quintal. On NMCE, April contract matured and 261 tonnes delivered. The increase in other contracts was from Rs 63 to Rs 614 a quintal. The total turnover on NCDEX dropped by 2,462 tonnes to 39,321 tonnes, while on NMCE it moved up by 1,978 tonnes to 7,774 tonnes.
The total open interest on NCDEX fell by 2,400 tonnes to 33,851 tonnes on Monday. April position was down by 205 tonnes to 1,264 tonnes as maturity is nearing. May and June positions also declined by 1,734 tonnes and 621 tonnes respectively to 17,592 tonnes and 10,126 tonnes. On NMCE, the total open interest declined by 100 tonnes to 4,307 tonnes. May position was down by 35 tonnes to 2,782 tonnes. Spot rates in tandem with the futures market trend went up by Rs 200 a quintal on Monday to close at Rs 14,500 (un-garbled) and Rs 15,100 (MG 1).