Pepper Futures Swing Marginally

Kochi: Pepper futures market on July 17, vacillated marginally on bearish activities even as the prices in other origins for Asta grade continued to rule high. International buyers, on the assumption that there won't be any relaxation in the quantitative restrictions on nearby position and consequently the prices would decline, are waiting and watching the Indian market. A positive decision by the regulator on the quantitative restrictions favouring the genuine players would help increase the exports given the price advantage Indian pepper enjoys now. July contract on NCDEX fell by Rs 12 a quintal on July 17 to Rs 14,435. August and September increased by Rs 25 and Rs 36 a quintal respectively, while all the other contracts dropped from Rs 27 to Rs 98 a quintal. On NMCE, August contract moved up by Rs 63 a quintal to close at Rs 14,493 from Rs 14,430, September fell by Rs 20 a quintal while October increased by Rs 41 a quintal. All the contracts remained at previous closing levels. Total turnover on NCDEX dropped by 1,524 tonnes to 16,963 tonnes, while on NMCE it moved up by 377 tonnes to 1,685 tonnes.