Pepper Futures Decline As Purchasers Liquidate

Kochi: The pepper futures market on July 20, fell on liquidation by both purchasers and sellers as the July delivery is maturing on the NCDEX. Against 125 tonnes of spot pepper traded at Rs 142-145 a kg on July 20, only 50 tonnes were traded on Friday, and at Rs 140-144. Brazil was offering September/December at $3,850-3,900 a tonne (fob) and July/August at $3,900-3,950. European purchasers were reportedly active in buying Asta grade from Brazil for converting into white, given the prevailing high prices for white pepper in the world market. July contract on the NCDEX fell by Rs 69 a quintal on July 20, to close at Rs 14,750.
The drop in other contracts was Rs 242-292 a quintal. On the NMCE, August contract fell by Rs 246 a quintal to close at Rs 14,590. The decline in other contracts was from Rs 99 to Rs 290. The total turnover on the NCDEX dropped by 4,938 tonnes to 24,556 tonnes, and by 831 tonnes to 1,216 tonnes on the NMCE. July and August positions fell by 277 tonnes and 2,017 tonnes respectively to 965 tonnes and 8,915 tonnes. The September position increased by 1,718 tonnes to 10,202 tonnes. Similarly, October also rose by 320 tonnes to 3,232 tonnes. The August position was up by nine tonnes to 1,485 tonnes.