MUMBAI (Commodity Online): Pepper futures expected to open higher on Friday due to thin supply in the domestic markets amid lower output concerns in this year.
Lower stocks with the stockists coupled with limited fresh arrivals at the domestic will keep Pepper prices firm in the intraday, according to Angel Comodities.
In NCDEX pepper February contract on Thursday closed 0.90% at Rs.32120 per quintal against the previous close.
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%.
Pepper production in Vietnam and Indonesia is projected at 1.10 lakh tonnes while that in Indonesia is projected to be 41 thousand tonnes.
As per IPC latest estimates, global Pepper production expected to rise to 3,20,000 tonnes in 2012 vs 2,98,000 tonnes this year a rise of 7.2%. Global exports expected to rise to 2.46 lakh tonnes vs 2.42 lakh tonnes in 2011.
Latest reports from Spice Board of India indicates Pepper exports for the period April-Oct 2011 have risen by 33% to 13750 MT in 2011 from 10350 MT in 2010 same period.
