Kochi: Pepper futures market ruled almost firm on July 23, following the FMC decision to raise the near month level limit for members and clients to 500 tonnes and 175 tonnes, respectively, effective from end of July 23. Besides, issues related to warehouse facilities are also allegedly doing problems to the players. In the international market, Europe is on summer holidays while US market is keeping quiet. Meanwhile, international players in Europe who supply to industry in the US are talking down the market.
Nearby positions on NCDEX increased marginally while that on NMCE declined. August contract on NCDEX on July 23, increased by Rs 40 a quintal to close at Rs 14,843 from Rs 14,803 on July 21. September and October went up Rs 37 and Rs 22 a quintal, respectively. November, December and January fell by Rs 2 to Rs 53 a quintal. The drop in other contracts, except December, was from Rs 124 to Rs 340 a quintal. December contract went up Rs 108 a quintal. The total turnover on NCDEX moved up by 4,733 tonnes to 16,453 tonnes while on NMCE it moved up by 748 tonnes to 1,397 tonnse. Spot prices ruled firm at previous levels on July 23, at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1) a quintal.
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