On Monday, the pepper futures market witnessed high volatility and went up at the end on reports that enquiries started floating from overseas buyers following tight supply position in other origins and rise in prices.
The tight supply position is emerging in all the origins as buyers in the major consuming markets, who did not cover earlier, have returned to the market from their summer vacation.
There were no sellers for spot. August contract on the NCDEX increased by Rs 271 to close at Rs 14,725 a quintal. September and October contract increased by Rs 290 and Rs 270 respectively to close at Rs 15,088 and Rs 15,283 a quintal. Total turnover dropped by 480 tonnes to close at 9,143 tonnes. Total open interest moved up by 82 tonnes to 9,601 tonnes. August open interest fell by 172 tonnes.
The tight supply position is emerging in all the origins as buyers in the major consuming markets, who did not cover earlier, have returned to the market from their summer vacation.
There were no sellers for spot. August contract on the NCDEX increased by Rs 271 to close at Rs 14,725 a quintal. September and October contract increased by Rs 290 and Rs 270 respectively to close at Rs 15,088 and Rs 15,283 a quintal. Total turnover dropped by 480 tonnes to close at 9,143 tonnes. Total open interest moved up by 82 tonnes to 9,601 tonnes. August open interest fell by 172 tonnes.
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