Pepper futures market ended with marginally up on Nov 24. The turnover also increased only 81 tones. Severe fluctuations in the market, has driven the small and medium players away from the market. Investors who were selling their validity expired stock at a discount of Rs 200-300 a quintal have reduced it to Rs 100 and at this rate there were no buyers. They were of the opinion that instead of buying it at the offering rate from the investors they could buy futures. Currently, most of the Kerala-based brokers told that their Dec position was full. Buyers have now adopted a wait and watch approach. On NCDEX, Dec contract surged by Rs 30 a quintal to Rs 11,672. Jan and Feb went up by Rs 48 and Rs 8, respectively, to Rs 11,780 and Rs 11,835 a quintal.
Going ahead, total turnover rose slightly by 81 tones to 2,708 tones. Total open interest dropped by 130 tones to 11,439 tones. Dec net open position fell by 196 tones to 5,763 tones while Jan declined by 53 tones to 4,635 tones. Feb moved up by 96 tones to 636 tones. Spot prices remained unchanged at Saturday's level of Rs 11,300 (un-garbled) and Rs 11,800 (MG 1). International market is quiet as the buyers are waiting and watching. The price trend in other origins would be known on Tuesday. Indian parity remained at $2,625-2,625 a tone (c&f).
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