Back Marginal decline in pepper futures
G K Nair
Kochi, July 13 The pepper futures market on Friday witnessed marginal decline for want of buying support.
Fluctuations were there in intra-day trading.
Buyers were watchful of the market as it has been moving up and down in recent days.
Besides, they anticipate that the FMC would give some relief to the genuine players—exporters and hedgers, on quantitative restrictions on nearby position at the meeting held in Mumbai. There was no selling pressure on spot.
In the international market all other origins remained steady for Asta grade.
However, Vietnam prices for 500 GL moved up by $100 a tonne to $3,600 a tonne (f.o.b.).
CONTRACTS POSITION
July contract on NCDEX declined by Rs 79 a quintal on Friday and closed at Rs 14,610.
The fall in other contracts was from Rs 64 to Rs 199 a quintal.
On NMCE, July contract dropped by Rs 117 a quintal to Rs 14,286.
The decline in other contracts was from Rs 16 to Rs 141 a quintal.
Turnover up
The total turnover on NCDEX increased by 10,343 tonnes to 35,676 tonnes, while on NMCE, it moved up by 301 tonnes to 2,669 tonnes.
Open interest
The total open interest on NCDEX increased by 680 tonnes to 24,704 tonnes, while July position dropped by 217 tonnes to 2,329 tonnes. August and September went up by 230 tonnes and 504 tonnes to 13,696 tonnes and 5,043 tonnes.
Total open interest on NMCE dropped by 384 tonnes to 2,730 tonnes, while July position fell by 371 tonnes to 547 tonnes.
Spot prices
Spot prices dropped by Rs 100 a quintal on Friday to close at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1).
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