Pepper Futures Decline On Pessimistic Speculative Activities - Aug 12 , 2008

Kochi: Pepper futures market on Aug 11, traded easier on pessimistic speculative activities. August contract declined by Rs 89 a quintal to close at Rs 13,820, while September declined by Rs 78 to close at Rs 14,090 and October by Rs 101 a quintal to close at Rs 14,382 on Aug 11, on NCDEX. Total volume increased by 2,096 tonne to 5,766 tonne, while net open position moved up by 158 to 20,570 tonne. The pessimistic sentiment is due to a possible reduction in import duties from Asean countries. However, a strong rupee against dollar has kept the Indian parity above all other origins at $3,500-3,550 a tonne (c&f). Domestic demand remained to show strength on account of the ensuing festival season.