Pepper Future Increases

Kochi: The pepper futures market increased on July 12, following reports that good volume has been traded with US as the Indian Asta grade pepper is the cheapest at present in the world market. Indian parity was even three cents above the prices of Brazil, which was offering Asta grade at $3,800 a tonne (f.o.b) while the Indian parity was at $3,700 a tonne (c&f). Availability of Indian pepper at low prices has surfaced the way for good demand coming to the country. Meanwhile, the FMC has convened a meeting of all stakeholders to discuss the quantitative restriction issue on July 13, in Mumbai. July contract on NCDEX on July 12, increased by Rs 565 a quintal to Rs 14,689The increase in other contracts was from Rs 486 to Rs 607 a quintal. In tandem with the upward trend in the futures market spot prices also increased by Rs 400 a quintal on July 12, to close at Rs 14,100 (un-garbled) and Rs 14,700 (MG 1).