MUMBAI (Commodity Online): Pepper futures surged sharply on Tuesday on the NCDEX counter as traders indulged in enhancing their position tracking waning spot market stock position amid high demand.
NCDEX pepper December futures rose to a high of Rs 15600 per quintal and currently trade at Rs 15207, up Rs 293 per quintal from the previous close. The open interest rose by 5% as traders trimmed their positions in the near month futures. The near month November contract trades at Rs 15300, up Rs 290 or 1.93% with 3.40% drop in the open interest.
Pepper futures also closed up on Saturday at 15010 rupees, up 0.89%. Domestic demand is continuing to support the prices for now which was subdued till Diwali. According to trade sources, the available stocks are only 10000 tonnes.
Trading platform that even a 5 year old can trade. Join nowExport demand is still subdued on account of higher prices. Indian rate is still higher at $3275 per tonne and Vietnam has rate is slightly lower at to $3150 per tonne while that of Indonesia and Brazil is slightly higher at $3100 per tonne and $2900 per tonne respectively.
