Kochi: Pepper futures market, after declining continuously in recent days, bounced back on Aug 24, on rumours that the FMC would relax the nearby month position. Meanwhile, international players based in the European Union were spreading rumours that the markets in Brazil and Vietnam crashed and the prices would fall further. Vietnam was offering 500 GL at $3,170 a tonne (f.o.b.), while 550 GL at $3,330 a tonne (f.o.b). Brazil was quoting B Asta at $3,250-$3,300 a tonne (f.o.b.), while B 1 at $3,200 a tonne (f.o.b). September contract on NCDEX, on Aug 24, fell by Rs 172 a quintal to Rs 12,410 from Rs 12,238 on Aug 23. The increase in other contracts hope November was from Rs 137 to Rs 256 a quintal. Total turnover on NCDEX increased by 2,653 tonnes to 25,126 tonnes. On NMCE, total turnover declined by 47 tonnes to 2,040 tonnes.
Source : www.indian-commodity.com
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