Pepper updates, pepper today news

Pepper ended the day with smart gains on fresh buying. Pepper traded higher on spot demand against the weak arrivals in local mandis. The NCDEX Pepper most active October contract ended near Rs 43600, up Rs425 per quintal.

Indian Pepper prices were not sustaining at higher levels due to the weak export demand for Indian parity due to its higher prices in the global markets. New crop from Indonesia is likely to reach in the market from mid September and crop size is expected to normal during the year. Despite the increase in the global pepper production, International Pepper Community projected there will be global shortfall of nearly 51,000 tones this year. This is due to the strong growth projected in the global pepper consumption. India's total production of pepper is likely to decline by almost 5000-6000 tonnes from the previous estimates of 43000 tonnes to 36000 tonnes due to early rainfall in major pepper growing regions which might reduce the pepper productivity in the current year.

The spot pepper ended the day up Rs200 at Rs41600 per quintal in Kochi mandi in today's trading session.Pepper arrivals increased to 160 quintals from 100 quintals and offtakes jumped to 150 quintals from 100 quintals over previous close.

Pepper most active October contract tested the low Rs42460 on last day and ended the day at Rs43160, down Rs130 per quintal. The contract traded in the range Rs43600-43100 level and the open interest added 1.2% to 5,891 tonnes, indicating fresh buying.

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