Pepper futures decline

Kochi: Pepper futures market after moving up on June 14, declined on June 15, as the June delivery got over, 1and traders reduced their positions due to the quantity restrictions on nearby positions. Indian parity at present is highly competitive and yet some exporters said to have sold at $3,700-$3,750 a tonne (c&f) when there were buyers at $3,825 a tonne (c&f), market sources alleged. In the international scenario, the pepper prices in all the origins remained unchanged except India. June contract on NCDEX on June 16, dipped by Rs 223 a quintal to close at Rs 13,295. The fall in other contracts except November and December declined by Rs 129 to Rs 251 a quintal. November and December improved by Rs 25 and Rs 50 a quintal, respectively.

On NMCE, June contract increased by Rs 108 to close at Rs 13,351. All the other contracts fell by Rs 55 to Rs 262 a quintal. The total turnover on NCDEX fell by 8,530 tonnes to 19,312 tonnes, while on NMCE it declined by 854 tonnes to 1,873 tonnes. On NMCE, the total open interest increased by 142 tonnes to 2,478 tonnes, while June position stood at 204 tonnes. Spot prices, however, ruled firm on Friday at previous levels of Rs 13,400 (un-garbled) and Rs 14,000 (MG 1) a quintal.