Future Pepper Price Expected High in Open Market, Overseas Demand High

Pepper futures price expected to open higher on the back of limited stocks from the fresh crop amid thin supply in the domestic markets. Hopes of rising overseras demand in the coming days also could support the uptrend.

Pepper traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain bullish for the commodity from a medium to long term point of view. Traders do apprehend some short term corrections but expect demand to rise in coming weeks that could support the falling rates in the medium term.

There are reports of fresh enquiries of Pepper from Vietnam and Russia in India. Further, demand from domestic stockists ahead of winter season is seen supporting prices. On the other hand pepper producers and stockiest in Kerala are holding on the stocks releasing only small quantities.

NCDEX Pepper October contract ended at Rs.36,020 per quintal, higher by 0.50 per cent.

Vietnam has reportedly sold 1.08 lakh tonnes of pepper till September 30th 2011. Buyers from Vietnam are therefore placing fresh orders in India.According to Spices Board of India, exports of pepper during April 2011- August 2011 stood at 7,750 tonnes as compared to 7,800 tonnes in 2010- 11, rise of 12%.

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