PEPPER FUTURES TRADE HIGHER ON ACCOUNT OF DWINDLING STOCKS IN
SPOT MARKETS
DATE: 27/06/2012
Pepper futures were trading higher as lower output and dwindling stocks triggered buying. Local pepper output in 2012 is expected to be at about 43,000 tonnes to 45,000 tonnes, compared with 49,000 tonnes last year. However, exports have been poor because Indian-origin pepper is offered at a premium of around $300-$400 per tonne compared to other suppliers. Meanwhile, 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
The contract for July delivery was trading at Rs 41235.00, up by 0.08% or Rs 35.00 from its previous closing of Rs 41200.00. The open interest of the contract stood at 3252 lots.
The contract for August delivery was trading at Rs 41520.00, up by 0.05% or Rs 20.00 from its previous closing of Rs 41500.00. The open interest of the contract stood at 1910 lots on NCDEX.
POWERED BY: COMMODITY INSIGHTS
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