Last Updated : June 21, 2010 11:20
Pepper gains on follow through buying
The pepper futures traded on a positive note on Saturday on follow through buying supported by strong fun-dametnal factors.
Tight supply situation and strong domestic and export demand supported the prices to trade higher. Indian parity price remained at par with other countries, hence, fresh export enquries came in the market.
The active July contract pepper futures tested an intraday high of Rs.16495 per quintal from a low of Rs.16321 per quintal and settled at Rs.16442 per quintal, gaining by 0.63%.
Outlook
The pepper futures are projected to trade on a positive note during the day on follow through buying sup-ported by tight supply condition
Since the Indian pepper is quoting at par with other countries in international market, India is getting good export orders World pepper balance sheet is in deficit of around 33,000 tonnes
According to IPC, during first 5-montho of CY2010, Vietnam exported 60,000 tonnes of pepper and left with 40,000 tonnes for rest of the year
The next crop is from Indonesia whose harvesting will commence in the month of July and its crop size is expected to be lower compared to last year
The NCDEX warehouse stock increased to 4205 tonnes on 18th June
Courtesy: Angel Commodities Get a bigger political picture to help you invest
MCX CARBON CREDITS 14 December 2012
contract was trading at
Rs 562 , down Rs. -53 . What's your view on it?
