MUMBAI (Commodity Online): Pepper futures expected to open higher on Wednesday on the back of limited stock in the spot markets along with lower production estimates.
However, demand from the overseas buyers has reduced owing to Christmas and New Year vacation.
Pepper stocks with Vietnam are expected to be around 10 thousand tonnes while that in India is expected to be 12 thousand tonnes.
In NCDEX pepper January contract closed on Tuesday higher by 1.07 % to Rs.36275 per quintal against the previous close.
Pepper prices in the intraday are likely to trade sideways with upward bias on account of lower arrivals in the domestic market amidst recovery in demand from the local buyers, according to Angel Commodities. In the short term (till December 2011) price trend will be determined by the quantity of fresh arrivals in the domestic and price quotes of various origins in the international market.
Global Pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011 with sharp rise of 24% in Indonesian pepper output and in Vietnam by 10%.
According to Spices Board of India, exports of pepper during April 2011- September 2011 stood at 11,250 tonnes as compared to 9,250 tonnes in 2010-11, rise of 22%
However, demand from the overseas buyers has reduced owing to Christmas and New Year vacation.
Pepper stocks with Vietnam are expected to be around 10 thousand tonnes while that in India is expected to be 12 thousand tonnes.
In NCDEX pepper January contract closed on Tuesday higher by 1.07 % to Rs.36275 per quintal against the previous close.
Pepper prices in the intraday are likely to trade sideways with upward bias on account of lower arrivals in the domestic market amidst recovery in demand from the local buyers, according to Angel Commodities. In the short term (till December 2011) price trend will be determined by the quantity of fresh arrivals in the domestic and price quotes of various origins in the international market.
Global Pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011 with sharp rise of 24% in Indonesian pepper output and in Vietnam by 10%.
According to Spices Board of India, exports of pepper during April 2011- September 2011 stood at 11,250 tonnes as compared to 9,250 tonnes in 2010-11, rise of 22%
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