Pepper Future Declines

Kochi: Pepper futures market during the week fell on bearish activities, while spot prices on July 14, remained at previous weekend closing. Total open interest on NCDEX declined by 273 tonnes during the week to 24,328 tonnes. July and August positions declined by 1,046 tonnes and 1,666 tonnes respectively to 2,265 tonnes and 13,045 tonnes during the weekend. On NMCE, the total open interest during the week declined by 49 tonnes to 2,738 tonnes, while July position dropped by 938 tonnes to 515 tonnes as maturity is nearing. Total turnover during the week on NCDEX increased by 43,467 tonnes to 1,39,320 tonnes, while on NMCE it moved up by 3,279 tonnes to 10,666 tonnes. Indian parity remained fluctuating during the week despite the fundamentals in the world market remained unchanged. Considering the tight supply position in the world market, every decline in the futures here is advantageous for the buyers. Spot prices on July 14, remained at previous weekend closing at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1) a quintal.