Pepper Future Witnesses Up Trend

Kochi: The pepper futures market on March 13, increased on speculative activities following rumours of delay in shipping of the commodity from Vietnam. Marketfed, the Kerala Government procurement agency, on March 13, sold 100 tonnes of pepper held by it at Rs 11,250 a quintal. On NCDEX, March contract increased by Rs 71 a quintal to close at Rs 11,770 on Tuesday from Rs 11,699. On NMCE, March contract increased by Rs 62 a quintal to close at Rs 11,225 from Rs 11,163. The total turnover on NCDEX increased by 3,611 tonnes to 22,922 tonnes, while on NMCE it moved up by 394 tonnes to 2,642 tonnes. Total open interest on NCDEX fell by 193 tonnes to 29,417 tonnes. March position fell by 1,678 tonnes to 351 tonnes. The spot prices increased by Rs 100 a quintal to close at Rs 11,200 (un-garbled) and Rs 11,800 (MG 1) on March 13.