Pepper Futures Fell On Decline In Stock Mkt

Kochi: Pepper futures market, which increased by Rs 250 a quintal in the morning session, on Aug 9, declined by over Rs 150 a quintal at the day's closing on the downward trend in the stock market following the reported crash in the European share market. To be ready to buy from these Indian exporters even at a price slightly higher than what was quoted by those who were offering at lower rates of late. August contract on NCDEX declined by Rs 165 a quintal on Aug 9, to close at Rs 12,716 from Rs 12,881 on Aug 8.

The decline in other contracts was from Rs 89 to Rs 179 a quintal. On NMCE August contract declined by Rs 77 a quintal to close at Rs 12,695 from Rs 12,772. The decline in other contracts except December and January was from Rs 112 to Rs 139 a quintal. December and January moved up by Rs 230 and Rs 267 a quintal respectively. August position fell by 120 tonnes to 5,050 tonnes. On NMCE total open interest fell by 6 tonnes to 2,411 tonnes. August position declined by 135 tonnes to 756 tonnes. Spot prices ruled steady at previous level of Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) a quintal on Aug 9.