Benchmark Pepper prices at Kochi were quoted at higher rates amidst regular offtakes at the domestic market on Saturday.
Pepper Futures December contract traded in sideways manner in the beginning of the session but surged towards the end of the session and touched a high of Rs.15,250/qtl and settled positively on Saturday.
Indian pepper production is estimated to be around 50,000 tonnes in 2010 whereas Vietnam is expected to be above the last year crop ie. 110000 tonnes.
Demand from the overseas market continues to remain lacklustre whereas demand from the domestic market especially from the northern India is present.
On Saturday International prices of pepper of different origins per tonne c&f New York were respectively MG1 $3,350–$3,400/tonne, Vietnam Asta $3,275-$3,300/tonne, Lampong Asta $3,225, Brazil Asta $2,900 - $2,950 /tonne (f.o.b.).
Courtesy: Angel Commodities Sitting in India, trade in markets across the globe. Click here to join
