Pepper Future Market Improves

Kochi: Pepper futures market increased on May 24, on over speculation. Vietnam reportedly decreased the price of 500 GL to $3,300 a tonne (f.o.b) but V Asta was being offered at $4,000 a tonne (f.o.b). Brazil and Indonesia were steady. Indian parity was at $3,750-3,800 a tonne (c&f) and hence continued competitive. Purchasing interest was there from overseas. Purchasers had covered some quantity from India and other origins Brazil and Indonesia via aggressively purchasing May and June and then slowed down for about a fortnight. June contract on NCDEX increased by Rs 196 a quintal to Rs 14,002 on May 24.
The increase in other contracts was from Rs 279 to Rs 363 a quintal. The increase in other contracts was from Rs 70 to Rs 250 a quintal. The total turnover on NCDEX fell by 4,558 tonnes to 44,368 tonnes, while on NMCE it declined by 622 tonnes to 3,686 tonnes. The total open interest on NCDEX moved up by 974 tonnes to 25,441 tonnes. June position fell by 658 tonnes to 12,835 tonnes while July increased by 1,398 tonnes to 8,470 tonnes. In tandem with the futures market trend spot prices increased by Rs 300 a quintal on Thursday to close at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1).