Pepper Future Mkt Increases

Kochi: Pepper futures market increased on Aug 13, on purchasing support and limited selling. The futures have now come in line with the ready and spot prices. There were purchasers for good quantity while the sellers were very much limited and this phenomenon increased the prices. In the international scenario, Vietnam is said to have increased its prices for farm grade pepper. The trend in the other origins would be known on Aug 14, when the buyers re-open after the weekend. Increase in other contracts was from Rs 407 to Rs 498 a quintal. The increase in other contracts was from Rs 150 to Rs 388 a quintal. The total open interest on NCDEX moved up by 124 tonnes to 25,312 tonnes. September and October increased by 466 tonnes and 128 tonnes respectively to 12,442 tonnes and 5,864 tonnes. August position declined by 52 tonnes to 491 tonnes. Spot prices, in tandem with the futures market trend, went up by Rs 200 a quintal on Aug 13, to close at Rs 13,100 (un-garbled) and Rs 13,700 (MG 1).