Kochi: Pepper futures market on Aug 12 increased on speculative activities by the bulls. August contract increased by Rs 89 a quintal while the increase in other contracts was from Rs 43 to Rs 102 a quintal from the closing price of Aug 11. However, January fell by Rs 51 a quintal.Total turn over increased by 1,912 tonnes on NCDEX to close at 7,678 tonnes while the net open position declined by 67 tonnes to close at 20,503 tonnes. August and September positions fell by 405 tonnes and 85 tonnes respectively while October moved up by 112 tonnes. Spot prices ruled frim at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) a quintal on Aug 12. There was no selling pressure for the spot pepper.
In the global market, easier trend continued in Brazil and Vietnam. The purchasers in Europe and US are on holidays while because of the slow economic activity dealers were keeping inventory only for two weeks and not for 6-7 weeks like in the past. The prices on Aug 12 for different origins C&F New York were MG1 L ASTA - $3,700-3,750 a tonne;V ASTA - $3,525-3,575 a tonne; B ASTA - $3,025-3,050 a tonne FOB; Vietnam White was quoted at $4,850-4,900 a tonne while Muntok Whiteat $4,950-5,000 a tonne (c&f).
In the global market, easier trend continued in Brazil and Vietnam. The purchasers in Europe and US are on holidays while because of the slow economic activity dealers were keeping inventory only for two weeks and not for 6-7 weeks like in the past. The prices on Aug 12 for different origins C&F New York were MG1 L ASTA - $3,700-3,750 a tonne;V ASTA - $3,525-3,575 a tonne; B ASTA - $3,025-3,050 a tonne FOB; Vietnam White was quoted at $4,850-4,900 a tonne while Muntok Whiteat $4,950-5,000 a tonne (c&f).
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