Pepper Futures Plunge On Lack Of Buying Support

Kochi: Pepper futures market on Monday declined after moving up at the weekend close on bearish activities and for want of buying support.

International market remained quiet, and yet to open after the weekend holidays. Prices of all the other origins were reportedly easier.

The December contract on the NCDEX declined by Rs 97 a quintal on Monday to close at Rs 13,119 from Rs 13,216 on last Saturday. The fall in other contracts, except May, was from Rs 133 to Rs 143 a quintal. May contract has gone up by Rs 84 a quintal.

On the NMCE, December contract dropped by Rs 83 a quintal to close at Rs 13,103 from Rs 13,186. All the other contracts, except May, declined by Rs 17 to Rs 95 a quintal. May contract has shown an increase by Rs 265 a quintal.

Total turnover

The total turnover, on the NCDEX, increased by 4,229 tonnes to 15,256 tonnes, while that for December declined by 18 per cent. However, January and February turnover increased by 74 per cent and 6 per cent, respectively.

On the NMCE, total turnover went up by 733 tonnes to 1,747 tonnes.

Open interest

Total open interest, on the NCDEX, has declined by 349 tonnes to 18,861 tonnes. December and January positions have dropped by 39 per cent and 44 per cent, respectively, while February moved up by 7 per cent.

On the NMCE, total open interest went up by 119 tonnes to 1,789 tonnes. December position has declined by 49 tonnes to 917 tonnes.

Spot prices remained unchanged at Rs 12,700 (un-garbled) and Rs 13,300 (MG 1) a quintal on Monday.