Pepper Futures Decline On Decrease Of Penalty Charges

Kochi: Pepper futures market fell on Oct 4, on bearish activities and the latest circular by the NCDEX on the penalty structure. In the international market pepper prices at all the other origins ruled steady to firm. Brazil was offering B1 at $3,125 a tonnes (f.o.b.) and B Asta at $3,175 a tonnes (f.o.b.). Vietnam was reportedly not offering Asta grade. October contract on NCDEX fell by Rs 138 a quintal on Oct 4, to Rs 12,185. The fall in other contracts was from Rs 19 to Rs 156 a quintal. The total turnover on NCDEX moved up by 1,501 tonnes to 17,085 tonnes, while that for October fell by 12 per cent. November turnover increased by 74 per cent. On NMCE total turnover moved up by 321 tonnes to 1,766 tonnes. Total open interest on NCDEX went up by 394 tonnes to 19,735 tonnes. October position declined by 34 per cent, while November and December increased by 40 per cent and 18 per cent. On NMCE total open interest increased by 27 tonnes to 2,040 tonnes. October position fell by 34 tonnes to 1,012 tonnes. Spot prices moved up by Rs100 a quintal on purchasing interest on Oct 4, to Rs11,900 (un-garbled) and Rs12,500 (MG 1).