Pepper Futures Mkt Regains

Kochi: Pepper futures market increased on Sept 12, on some buying support. Some 30 tonnes of graded pepper is said to have been traded in spot and that have influenced the futures market. Indian parity has increased to $3,500-3,550 a tonne on Sept 12, partially due to a stronger rupee against the dollar. Vietnam has reduced the prices of 500 GL to $3,000 a tonne (f.o.b) and 550 GL to $3,150 a tonne (f.o.b). Brazil and Indonesian prices for Asta grade reportedly ruled firm at previous levels. B Asta was quoted at $3,400 a tonne (f.o.b) and L Asta at $3,575 a tonne (f.o.b).

The increase in other contracts was from Rs 29 to Rs 120 a quintal. The February contract fell by Rs 187 a quintal to close at Rs 12,701. Total turnover on NCDEX declined by 7,428 tonnes to 13,290 tonnes, while that of September and October fell by 5 per cent and 81 per cent. On NMCE total turnover dropped by 700 tonnes to 2,021 tonnes. Total open interest on NCDEX increased by 154 tonnes to 23,022 tonnes. September position declined by 19 per cent while October and November moved up by 47 per cent and 19 per cent respectively. Total open interest on NMCE increased by 8 tonnes to 2,345 tonnes.