MUMBAI (Commodity Online): Pepper futures rose Thursday on fresh buying by the traders on the back of rising spot demand.
In NCDEX pepper February contract is trading at Rs.29875 per quintal, higher by 1.65 per cent on 12:10 Noon againnst the previous close.
In the morning session the contract traded at a range of Rs.29395-30275 per quintal. Open interest of the contract is 5392 lots and volume traded is 1510 lots for the time being.
According to Spices Board of India, exports of Pepper during April 2011- November 2011 stood at 17,000 tonnes as compared to 11,850 tonnes in 2010-11, rise of 43.6%.
According to International Pepper Community (IPC) exports of Black Pepper during January to October 2011 from six major exporting countries (Brazil, India, Indonesia, Malaysia, Vietnam and Sri Lanka) was around 2.04 lakh tonnes a decline of 4.6% as compared to 2.14 lakh tonne in the same period last year.
