Kochi: Pepper futures market maintained its upward swing on Sept 6, but much on speculative activities. The high volatility in the trading gives the impression that the way trading is going on uncontrolled that it is in the hands of manipulators apart from speculators. In the international market Vietnam prices increased on Sept 6, with 500 GL going up to $3,180 a tonnes (f.o.b.), while 550 GL at $3,310 a tonnes (f.o.b.) and V Asta at $3,580 a tonnes (f.o.b.). In Brazil prices of B Asta ruled firm at $3,450-3,500 a tonnes (f.o.b.). Lampong Asta eased to $3,550 a tonnes (f.o.b.).
September contract on NCDEX on Sept 6, increased by Rs 152 a quintal to Rs 12,858 . The increase in other contracts was from Rs 132 to Rs 378 a quintal. On NMCE, September contract increased by Rs 173 a quintal to Rs 12,750. The rise in other contracts was from Rs 135 to Rs 271. The total turnover on NCDEX dropped by 5,372 tonnes to 27,599 tonnes. September and October fell by 11 per cent and 78 per cent respectively.
Total open interest on NCDEX increased by 640 tonnes to 24,313 tonnes. September position fell by 22 per cent, while October increased by 49 per cent. On NMCE open interest fell by 94 tonnes to 2,210 tonnes. September and October positions declined by 10 tonnes and 95 tonnes respectively to 477 tonnes and 1,546 tonnes.
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