Pepper Future Increases

Kochi: The pepper futures market saw marginal rise on July 2,on reports of upward trend in other origins such as Vietnam and Indonesia. It was offering 500 GL at $3,530 a tonnes (f.o.b.) and 550 GL at $3,750 (f.o.b.).V Asta was quoted at $4,130 (f.o.b.). Meanwhile, in Indonesia, Lampong Asta was being offered at $4,050-4,100 (f.o.b.). The Indian produce continues to be competitive in the world market. Exporters were covering from exchanges. On July 2, the July contract on NCDEX increased by Rs 14 a quintal to Rs 15,230. The increase in other contracts was between Rs 31 and Rs 79 a quintal. The other contracts increased by Rs 42-58 a quintal. On the NMCE, the total open interest declined by 39 tonnes to 2,780 tonnes. The July position declined by 48 tonnes to 1,738 tonnes. Spot prices on tight supply ruled firm on July 2, at last weekend close of Rs 14,200 (un-garbled) and Rs 14,800 (MG 1).