Pepper Futures Bounces Back

Kochi: The pepper futures, which rebounded on Sept 18, witnessed a decline on Sept 19. When the prices at other origins ruled firm there was no reason for pushing down the prices, market observers told. It was offering FAQ 500 GL at $3,150 and FAQ 550 GL at $3,300 a tonne (f.o.b). Indonesia reported to have quoted L Asta at $3,400-$3,450 a tonne (f.o.b.), while white pepper was quoted at $4,525 a tonne (f.o.b). On NMCE, October contract declined by Rs 232 a quintal to t Rs 12,000. The fall in other contracts was from Rs 15 to Rs 220 a quintal. The total turnover, on NCDEX, increased by 2,806 tonnes to 16,673 tonnes. October and November turnover increased by 1,662 tonnes and 1,558 tonnes, respectively while September dropped by 34 tonnes. On NMCE, total turnover moved up by 198 tonnes to 1,556 tonnes.