NCDEX PEPPER TIPS 08 JUN 2012

PEPPER FUTURES SUSTAIN THE BEARISH TREND

DATE: 08/06/2012       

Pepper futures were trading mixed on NCDEX. The commodity for near term future was trading in red tracing the subdued demand for the commodity in the domestic as well as international market. Exporters reportedly preferred waiting for dips before initiating fresh demand in the mandis. Further, near term trend for the commodity continues to remain subdued on better crop expectations from Indonesia, Sri Lanka and Vietnam, which could eat into the Indian demand. Global Pepper production in 2012 is expected to increase by 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011. On the flip side, Indian production is expected to be lower due to adverse weather, lower acreage and a fall in productivity.

The contract for June delivery was trading at Rs 39,380.00, down by 0.15% or Rs 60.00 from its previous closing of Rs 39,440.00. The open interest of the contract stood at 1574 lots.

The contract for July delivery was trading at Rs 39,100.00, up by 0.58% or Rs 225.00 from its previous closing of Rs 38,875.00. The open interest of the contract stood at 3112 lots on NCDEX.

POWERED BY: COMMODITY INSIGHTS

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