Pepper future recovers

Kochi: Pepper futures market rebounded back on unconfirmed reports that good quantity of pepper was traded to Europe and the US on June 13.Add to this international traders who wanted to cover are also spreading rumours aimed at pushing the market down. On the other hand, the delay in taking a decision on the quantitative restrictions imposed on nearby position has put the genuine players in the market in a dilemma. In the international market prices of all the other origins ruled steady. Vietnam was offering 500 GL at $3,275-3,300 a tonne (f.o.b.), while Brazil was quoting $3,700 (f.o.b.) a tonne for B Asta. June contract on NCDEX increased by Rs 229 a quintal on June 14 to close at Rs 13,560 from Rs 13,331 on June 13. The increase in other contracts was from Rs 152 to Rs 295 a quintal. On NMCE June contract moved up by Rs 248 a quintal to close at Rs 13,250 from Rs 13,002. The increase in other contracts was from Rs 58 to Rs 296 a quintal. The total turnover on NCDEX went up by 4,012 tonne to 27,842 tonne while on NMCE it increased by 1,104 tonne to 2,727 tonne.