Pepper March futures prices are expected to continue the uptrend on cues from prevailing bullish fundamentals across the global and domestic pepper market.
Reports of tight supply across the major growing regions in Kerala & Karnataka due to decline in production also expected to support the prices.
According to trade sources, around 40% & 20% pepper production has declined in Kerala and Karnataka respectively
Interstate traders who sold pepper at higher rate earlier are now holding back their stocks in lieu of higher prices
According to trade sources, brine manufacturers have bought good amount of green berries from growers which is creating supply shortage for black berries and thereby pushing pepper prices on higher side
Overall trend in global pepper market is also remaining firm as supply from Vietnam due to expected decline in Vietnam’s pepper production
Pepper NCDEX Mar-12 support: 31138 31586 resistance: 32426 32735 Buy at 31840 TP 32460 SL 31550
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