Kochi: Pepper futures market moved up marginally at close after declining during early trading in tandem with the trend in the stock market on Wednesday.
Kerala’s Idukki district based investors were liquidating their stocks and the exporters, processors, domestic dealers and processors were buying. Nearly 80 to 90 tonnes of pepper were sold at Rs 133 to Rs 137 a kg depending upon quality, market sources told Business Line. However, unconfirmed reports said that 150 tonnes of the commodity was sold.
As expected domestic demand has picked up and it is mainly met by supplies from the primary markets.
In the international market Brazil prices are reportedly firmer and due to upward trend in local prices exporters were not offering.
B Asta was quoted at $3,500 a tonne (f.o.b.).
Sri Lanka was offering 550 GL at $3,400 a tonne (f.o.b.). Vietnam prices remained unchanged. Indian parity on Wednesday stood at $3,775 -$3,800 a tonne (f.o.b.).
Contract position
October contract on NCDEX improved by Rs 16 a quintal on Wednesday to close at Rs 13,842 from Rs 13,826 on Tuesday.
The other contracts except November and February moved up by Rs 5 to Rs 308 a quintal. November and February declined by Rs 6 and Rs 19 respectively.
Spot prices ruled steady at previous levels on Wednesday at Rs 13,400 (un-garbled) and Rs 14,000 (MG 1) a quintal.
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