Kochi: Indian pepper futures market saw an upward trend for the second day on Sept 5, on reports of firm international market and increase in Indonesian prices. Futures prices have increased above the spot. The latest projections of output in Brazil reportedly put at 25,000 tonnes as against the earlier estimates of 35,000 - 40,000 tonnes. Vietnam has quoted $3,500 a tonnes (f.o.b) for Asta grade. Indian parity on Wednesday was at $3,625 a tonnes (c&f) and thus remained still competitive. September contract on NCDEX on Sept 5, increased by Rs 269 a quintal to Rs 12,655. The increase in other contracts was from Rs 294 to Rs 371 a quintal. On NMCE September contract increased by Rs 271 a quintal to Rs 12,530. The rise in other contracts was from Rs 129 to Rs 375 a quintal. The total turnover on NCDEX increased by 5,922 tonnes to 32,971 tonnes.
The total open interest on NCDEX moved up by 482 tonnes to 23,673 tonnes. September position dropped by 24 per cent while October increased by 48 per cent. The stock position on NCDEX was at 7,000 tonnes, while the open interest for September and October was at 5,720 tonnes and 11,260 tonnes respectively. Total open interest on NMCE declined by 152 tonnes to 2,304 tonnes. September and October position fell by 83 tonnes and 72 tonnes respectively to 487 tonnes and 1,641 tonnes.
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