Pepper Futures Fell

Kochi: Pepper futures decline on activities of bear operators despite prices of other origins ruling firm. Besides, quantity restrictions coupled with lack of adequate space in the warehouses have also contributed to the decline. The falling trend in the futures market is driving away purchasers. Exporters were ready to purchase but limited quantity was available and traded. May delivery was available below the price of ungarbled pepper. Some of the Indian operators said to have sold to overseas purchasers at $3,850- 3,900 a tonne (c&f). Buyers are interested in Jul/Aug/Sep.
The prices in Vietnam reported to have bounced back to $3,480 a tonne for 500 GL (f.o.b). 550 GL was being offered at $3,630 a tonne (f.o.b), while V Asta was at $4,050 a tonne (f.o.b). L Asta was quoted at $4,035 a tonne (f.o.b), while B Asta was at $3,900 a tonne (f.o.b). The decline in other contracts was from Rs 330 to Rs 455 a quintal.On NMCE June contract dipped by Rs260 to Rs 13,351. The drop in other contracts was from Rs 280 to Rs 579 a quintal. The total turnover on NCDEX declined by 10,114 tonnes to 34,254 tonnes while that on NMCE fell by 362 tonnes to 3,324 tonnes. The total open interest on NCDEX increased by 324 tonnes to 25,765 tonnes. June position fell by 510 tonnes to 12,325 tonnes, while July moved up by 701 tonnes to 9,171 tonnes.