Pepper prices touched 22,707 levels on strong buying interest. Global tight supply situation and lower production forecast by IPC are further adding to the upside.
On intension of talking delivery traders and exports bought pepper futures.
Outlook
The pepper futures are expected to open on a positive note based on bullish fundamental factors. Export demand is active in the market. Lower production estimates and tight supply situation may further support the uptrend.
Planters are holding back their produce as they are anticipating further rise in the prices. Indian parity in Interna-tional market is reported in line with other origins at $5000-5100 a ton; Lampong ASTA is at $4850-4900 per ton; Vietnam 500 g/l is at $4850-5000 a ton.
Around 1582 tons of pepper is available with exchange valid till December 5th Average daily prices at spot market of Kochi were `21,600 per quintal for MG-1 and `21,100 per quintal foe Ungarbled pepper on Thursday.
As per Spices Board data, international price of Pepper in New York market was unchanged to $5.40 per kg during the week ended 12th November 2010 against $3.46 per kg quoted in the same period last year.
(Source: http://www.commodityonline.com/futures-trading/technical/Pepper-gains-on-domestic-demand-19972.html)
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