Indian pepper futures are expected to extend the gains on the back of buying support amid strong demand against the weak supplies. The NCDEX Pepper October contract is likely to trade in the range of Rs 43900-43000 level.
Based on the International Pepper Community 2012 forecast, this years 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 worlds consumption is projected to grow by 7,550 tonnes to 371,000 tonnes from 363,450 tonnes last year.
Black Pepper for ready delivery in Kochi, closed Thursdays trading session on positive note with MG-1 at Rs 41,000, up by Rs 300 and Un-Garbled pepper at Rs 39,500, up by Rs 300 per 100 kg.
The NCDEX Pepper ended up for the second day with the counter closing above the 20-day and 50-day EMAs. The counter touched the low of Rs 42300 level on 11th September 2012. Position covering ahead of the September month expiry added some support for the rise in the pepper prices.Via
Based on the International Pepper Community 2012 forecast, this years 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 worlds consumption is projected to grow by 7,550 tonnes to 371,000 tonnes from 363,450 tonnes last year.
Black Pepper for ready delivery in Kochi, closed Thursdays trading session on positive note with MG-1 at Rs 41,000, up by Rs 300 and Un-Garbled pepper at Rs 39,500, up by Rs 300 per 100 kg.
The NCDEX Pepper ended up for the second day with the counter closing above the 20-day and 50-day EMAs. The counter touched the low of Rs 42300 level on 11th September 2012. Position covering ahead of the September month expiry added some support for the rise in the pepper prices.Via
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