Kochi: The pepper futures market on July 24 was volatile and all the contracts ended slightly up. Reports that Vietnam rates are easier created pessimistic sentiments and arrested the upward move. Indian parity ruled at $3,600-3,650 a tonne (c&f) and continued uncompetitive in the world market, even after the rupee weakened against the dollar on July 24.
Indonesia was quoting at $3,500 a tonne (f.o.b.) and its prices are reported to be easier in the coming weeks. Brazil was quoting Astaat $3,100 a tonne (f.o.b.) Belem while 550 GL at $3,000 a tonne (f.o.b.). Vietnam reported to have quoted 550 GL at $2,950-3,000 a tonne (f.o.b.). The turnover on the NCDEX dropped by 2,422 tonne to 12,331 tonne on July 24 while the Net Open Interest declined by 373 tonne to 20,687 tonne. August net open position fell by 490 tonne to 9,261 tonne while others increased slightly.
Spot prices ruled firm at July 23 levels of Rs 13,800 a quintal (un-garbled) and Rs 14,400 a tonne (MG 1) on July 24.
Indonesia was quoting at $3,500 a tonne (f.o.b.) and its prices are reported to be easier in the coming weeks. Brazil was quoting Astaat $3,100 a tonne (f.o.b.) Belem while 550 GL at $3,000 a tonne (f.o.b.). Vietnam reported to have quoted 550 GL at $2,950-3,000 a tonne (f.o.b.). The turnover on the NCDEX dropped by 2,422 tonne to 12,331 tonne on July 24 while the Net Open Interest declined by 373 tonne to 20,687 tonne. August net open position fell by 490 tonne to 9,261 tonne while others increased slightly.
Spot prices ruled firm at July 23 levels of Rs 13,800 a quintal (un-garbled) and Rs 14,400 a tonne (MG 1) on July 24.
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