Pepper Sees Downtrend

Kochi: The downward trend continued in the pepper futures last week with the prices declining by Rs 230-406 a quintal on NCDEX and by Rs 53 to Rs 450 a quintal on NMCE at the weekend close. Spot prices declined by Rs 300 a quintal during the week to close at Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) at weekend close. However, reports of firming up of prices in Vietnam and Indonesia helped prices regained on Aug 11, by Rs 251- Rs 317 a quintal on NCDEX and Rs 200-296 a quintal on NMCE. August contract on NCDEX increased by Rs 269 a quintal to close at Rs 12,985 on Aig 11. The total turnover on Aug 11, on NCDEX declined sharply by 10,769 tonnes to 16,092 tonnes, while on NMCE it dropped by 869 tonnes to 929 tonnes. Asta grade was quoted at $3,700 a tonnes (f.o.b.) while 500 GL and 550 GL were at $3,270 and $3,400 a tonnes (f.o.b.) respectively. In Indonesia, LASTA was quoted at $3,700-3,750 a tonnes (f.o.b.) even after the harvesting said to have commenced there. Indian MG 1, therefore, still remained competitive.