Kochi: The pepper futures market on Aug 13 increased on optimistic activities. August contract increased by Rs 78 a quintal to close at Rs 14,000, still Rs 300 below the spot price for MG 1. The increase in other contracts was from Rs 75 to Rs 122 a quintal. Total turnover on NCDEX declined by 1,505 tonnes to close at 6,173 tonnes while the total open interest fell by 292 tonnes to 20,211 tonnes. Purchasers from the domestic market were waiting for the investors to sell their validity expired goods as it was available Rs 300 below the spot prices. Spot prices were firm at the previous level of Rs 13,700 a quintal for un-garbled and Rs 14,300 a quintal for MG 1 on Aug 13.
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