Kochi: Pepper futures market on Sept 24 declined mainly on the flash strike at the Kochi port. Tight supply position coupled with fall in futures prices and a weakened rupee has led to some business coming to India. Exporters who had taken delivery on Sept 19 and 20 might not be able to meet the delivery schedule set by the overseas purchasers and as a result there was no buying. The intermittent strike at the port is said to be compelling the exporters to see for alternative shipping facilities. On NCDEX, October contract declined by Rs 105 a quintal to Rs 13,255 on Sept 24. November and December contracts declined by Rs 126 and Rs 155 to Rs 13,500 and Rs 13,727 a quintal respectively. Total open interest also increased by 462 tonnes to 18,162 tonnes. Meanwhile, pepper exports from India during April-August 2008 fell to 11,250 tonnes valued at Rs 190.65 crore from 15,620 tonnes prized at Rs 226.44 crore in the corresponding period last year. The unit value realised this year was Rs 169.47 a kg as against Rs 144.97 a kg. Shipments in August this year declined to 1,750 tonnes valued at Rs 30.10 crore, which is more than half of the quantity of 3,567 tonnes of August 2007.
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