PEPPER
FUTURES TRADE LACKLUSTER
DATE: 01/06/2012
Pepper futures were trading lackluster 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 38770.00, down by 0.09% or Rs 35.00 from its
previous closing of Rs 38805.00. The open interest of the contract stood at 3008
lots.
The contract for July
delivery was trading at Rs 38750.00, down by 0.05% or Rs 20.00 from its
previous closing of Rs 38770.00. The open interest of the contract stood at
2775 lots on NCDEX
POWERED BY: SMC ONLINE NEWS
www.goldennifty.com
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