MUMBAI (Commodity Online): Pepper futures recovered from the previous losses Wednesday in the early trading on technical correction. However, higher production outlook of 10% is expected to dampen the price rise.

NCDEX pepper March contract moved up Rs 88 at Rs 12,869 a quintal. The contract had opened the day higher at Rs 12,788 a quintal and fluctuated between Rs 12,875- 12,788 a quintal. April contract advanced Rs 78 at Rs 13,133 a quintal. Volumes in the March and April contracts stood at 235 and 331 tons respectively.

Pepper futures lost its early hours gains by the end of the day due to unclear trend on the futures market. Concerns of supply pressure from Vietnam during coming weeks also led to bearish sentiments in the market.

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The active NCDEX April Pepper futures opened higher at 13150 levels and made an intraday high at 13220 levels, higher than the previous day’s high of 13167 levels. It made an intraday low at 13031 levels and settled the day at 13055 levels, with a negative change of 0.47%.

Supported by the fundamental factors of steady export demand and higher spot rate, Pepper futures are expected to trade on a positive note.

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