Kochi: The pepper futures market on Aug 18 saw high volatility and closed by and large steady. There have been variations without any connection to spot availability. Domestic purchasers adopted a wait and watch approach despite good demand, because of the high volatility in the prices.
There was no selling pressure. August contract fell marginally by Rs 12 to Rs 14,160 a quintal, while September and October increased by Rs 10 and Rs 33 to Rs 14,510 and Rs 14,831 a quintal respectively. The increase in November, December and January was from Rs 42 to Rs 52, while February was down by Rs 25 a quintal. Total turnover increased by 2,534 tonnes to 8,253 on NCDEX, while total net open position declined by 142 tonnes to 20,678 tonnes. B Asta was sold at $3,170 c&f Rotterdam. Vietnam 500 GL was quoted at $2,780-2,800 a tonne (fob); 550 GL at $2950-2970 a tonne (fob) and V Asta at $3,200 a tonne (fob).
There is a feeling in the market that coverage, at present, may be difficult in the coming days given the tight supply position. Spot prices ruled firm at last weekend close of Rs 13,800(un-garbled) and Rs 14,400 (MG 1) a quintal on Aug 18.
There was no selling pressure. August contract fell marginally by Rs 12 to Rs 14,160 a quintal, while September and October increased by Rs 10 and Rs 33 to Rs 14,510 and Rs 14,831 a quintal respectively. The increase in November, December and January was from Rs 42 to Rs 52, while February was down by Rs 25 a quintal. Total turnover increased by 2,534 tonnes to 8,253 on NCDEX, while total net open position declined by 142 tonnes to 20,678 tonnes. B Asta was sold at $3,170 c&f Rotterdam. Vietnam 500 GL was quoted at $2,780-2,800 a tonne (fob); 550 GL at $2950-2970 a tonne (fob) and V Asta at $3,200 a tonne (fob).
There is a feeling in the market that coverage, at present, may be difficult in the coming days given the tight supply position. Spot prices ruled firm at last weekend close of Rs 13,800(un-garbled) and Rs 14,400 (MG 1) a quintal on Aug 18.
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