Kochi: Pepper futures market on Thursday declined marginally on selling pressure as those holding long positions began to liquidate.
Bears were said to be creating more pressure on long operators to liquidate. Indian parity continues to remain at around $3,900-3,950 a tonne (c&f). Vietnam prices continued to rule higher. 500 GL was being offered at $3,800-3,900 a tonne (f.o.b.) while 550 GL at $4,000-4,100 a tonne (f.o.b.). But, there were no buyers at this rate.
According to an overseas report Vietnam 500GL and 550 GL pepper is coming to India now. In Brazil the prices continued to remain firm at the previous levels and the exporters do not seem to be interested to reduce their price.
The markets are expected to become active after the Easter holidays.
March contract on NCDEX declined by Rs 13 a quintal on Thursday to Rs 14,715. The decline in other contracts except May was from Rs 12 to Rs 47 a quintal. May contract moved up by Rs 9 a quintal.
On NMCE April contract dropped by Rs 12 a quintal to Rs 15,081. August and September contracts dropped by Rs 30 and Rs 19 respectively while May and July moved up by Rs 1 and Rs 204 a quintal respectively.
Spot prices continued to rule at previous levels of Rs 14,300 (un-garbled) and Rs 14,900 (MG 1) a quintal on Thursday.
Bears were said to be creating more pressure on long operators to liquidate. Indian parity continues to remain at around $3,900-3,950 a tonne (c&f). Vietnam prices continued to rule higher. 500 GL was being offered at $3,800-3,900 a tonne (f.o.b.) while 550 GL at $4,000-4,100 a tonne (f.o.b.). But, there were no buyers at this rate.
According to an overseas report Vietnam 500GL and 550 GL pepper is coming to India now. In Brazil the prices continued to remain firm at the previous levels and the exporters do not seem to be interested to reduce their price.
The markets are expected to become active after the Easter holidays.
March contract on NCDEX declined by Rs 13 a quintal on Thursday to Rs 14,715. The decline in other contracts except May was from Rs 12 to Rs 47 a quintal. May contract moved up by Rs 9 a quintal.
On NMCE April contract dropped by Rs 12 a quintal to Rs 15,081. August and September contracts dropped by Rs 30 and Rs 19 respectively while May and July moved up by Rs 1 and Rs 204 a quintal respectively.
Spot prices continued to rule at previous levels of Rs 14,300 (un-garbled) and Rs 14,900 (MG 1) a quintal on Thursday.
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