MUMBAI (Commodity Online): Pepper futures rose Friday on thin supply in the domestic markets from the new crop amid lower production concerns in 2012.
In NCDEX pepper February contract is trading at Rs.29750 per quintal, up by 0.84 per cent on 14:25 IST against the previous close.
In the morning session the contract traded at a range of Rs.29350-29945 per quintal. Open interest of the contract is 4628 lots and volume traded is 721 lots for the time being.
Global Pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011 with sharp rise of 24% in Indonesian pepper output and in Vietnam by 10%.
Exports from Indonesia posted significant decrease of 40% as compared to previous year. Exports stood at 29,000 tonnes as compared to 48,500 tonnes in the last year.
