Pepper Futures Regains On Vietnam Rate Soar

Kochi: Pepper futures got well on April 20, on reports of surge in Vietnam pepper prices. Prices had fell on April 19, on rumours but they could not be confirmed from any reliable sources. Vietnam was said to be offering 500 GL on Friday at $3,300 a tonne (f.o.b). Activity in the international market, as a result, was very slow, market observers here said. Investors here were buying NCDEX delivered and around 150 tonnes of pepper was traded almost daily. On NCDEX, April contract moved up by Rs 113 a quintal to Rs 14,872 on April 20. The increase in other contracts was from Rs 179 to Rs 272 a quintal. On NMCE, April contract went up by Rs 191 a quintal to Rs 14,740. The total turnover on NCDEX declined by 4,461 tonnes to 37,380 tonnes while on NMCE, it fell by 653 tonnes to 5,114 tonnes. The total open interest on NCDEX dropped by 1,198 tonnes to 33,954 tonnes. Spot rates increased by Rs 200 a quintal on Friday to Rs 14,400 and Rs 15,000.