PEPPER IS LIKELY TO ZOOM FURTHER ON STRONG BUYING
DATE: 20/07/2012
Pepper futures gained on bargain buying amid tight supply position in the local markets.The NCDEX Pepper August contract ended the session higher at R 43,350, up by R 180 or 0.42% over the last close. The contract traded in the range of R 43,110-43,670 per quintal. Black Pepper for ready delivery in Kochi, closed Thursday's trading session on steady note with MG-1 at R 41,600 and Un-Garbled pepper at R 40,100 per 100 kg.Technically, the August contract is likely to find resistance at R 43650, R 44200 and support is at R 43110, R 42900 per quintal.
Based on the International Pepper Community's (IPC) 2012 forecast, this year's world production is expected to increase by more than 21,755 tonnes or 7.3% to 320,155 tonnes from 298,400 tonnes last year while world's consumption is projected to grow by 7,550 tonnes to 371,000 tonnes from 363,450 tonnes last year. There will, therefore, be a projected global shortfall of nearly 51,000 tones this year.
Based on the International Pepper Community's (IPC) 2012 forecast, this year's world production is expected to increase by more than 21,755 tonnes or 7.3% to 320,155 tonnes from 298,400 tonnes last year while world's consumption is projected to grow by 7,550 tonnes to 371,000 tonnes from 363,450 tonnes last year. There will, therefore, be a projected global shortfall of nearly 51,000 tones this year.
POWERED BY: COMMODITY INSIGHTS
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A very informative post for commodity traders this is. Got to know useful updates on pepper here. Further reports of epic research are also helpful in gaining quick updates on market's performance .
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