Pepper surges on weak production estimates
Pepper futures augmented by almost Rs 1000 per in today's trading due to weak production trend in domestic market along with strong export demand.
As per market sources , the 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.
Moreover, strong export demand of pepper at the current prices due to fresh harvesting season also added some gains in pepper market.
Consequently, the future prices of Pepper NCDEX March Benchmark contract gained Rs 955 per quintal, to trade at Rs 33055 per quintal today.
Source: Capital Market
Tags : pepper | commodity | spices |
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