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Pepper prices on India Pepper and Spice Trade Association (IPSTA) at Kochi in Kerala state ruled at Rs.388 per kg for garbled and Rs.373 for ungarbled on Wednesday.

10 Jan 2013

NEW DELHI (Commodity Online): Pepper futures on India's National Commodity and Derivatives Exchange (NCDEX) are slightly up on short covering and fresh demand from North India.

Poor export demand has been a price dampener for pepper on both futures and spot markets.

Pepper futures on NCDEX were slightly up by 0.61 percent at Rs.35320 per 100kg for February contract as of 11.44 AM IST on Thursday.

“Pepper trend looks positive until it breaks Rs.34700 levels on the down side; up side resistance is expected at Rs.35750 level,” said Milan Shah, Commodity Analyst at Commodity Online.

Pepper prices on India Pepper and Spice Trade Association (IPSTA) at Kochi in Kerala state ruled at Rs.388 per kg for garbled and Rs.373 for ungarbled on Wednesday.

A rise in the production estimates of pepper in Indonesia and Sri Lanka and cheaper availability of pepper in the international market are proving to be a drag on pepper prices in India.

Quality issues in the ware house regarding pepper have also caused downward movement in the futures.

Pepper production in India is expected to be at 55,000 tons in 2013 against last year's 43,000 tons. Also, exports are estimated at 25000 tons in 2013 against 17500 tons in 2012.

The export demand may support India's pepper futures for both medium and long term.


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