Kochi: Pepper futures continued their upward trend on tight supply in the domestic as well as in international market. Vietnam and Brazil were reportedly firmer and had increased their prices by $50 to $100 tonne. Indonesia is reported to be quietly selling to end users in the US at $3,500-3,525 a tonne (c&f). The US is said to have covered up to September and fresh demand has to emanate from October onwards. The supply position in Vietnam is also getting tighter with the stocks depleting. Similar situation is in India also. Spot rates continued to rule above the futures market prices. Indian parity on Sept 23 was at $3,200 a tonne (c&f) in to Europe and $3,300 a tonne (c&f) US. Rupee weakened against dollar and that has nullified the increase in price. October contract on NCDEX increased by Rs 216 a quintal to Rs 13,344 on Sept 23. The increase in other contracts was from Rs 198 to Rs 382 a quintal. On NMCE, October contract went up by Rs 240 a quintal to Rs 13,330. Total turn over on NCDEX fell by 169 tonnes to 10,789 tonnes
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