Black pepper futures recovers on tight supply
Black pepper prices firmed up in the futures market largely on the back of tight supply in the spot markets.
By PTI |
NEW DELHI: Black pepper prices on Tuesday firmed up in the futures market largely on the back of tight supply in the spot markets.
At 1115 hrs, black pepper for most-active September contract was up by 0.25 per cent at Rs 14,272 per quintal at the NCDEX counter, while October contract was up 0.10 per cent at Rs 14,560 per quintal.
Tight supply situation in the physical markets following lower arrivals from pepper-growing regions, mainly pushed up the pepper prices at futures market here, said a NCDEX trader.
He said, however, the prices are likely to decline later in the day as pepper prices in global markets are ruling lower.
India's pepper exports during the first three months of 2008-09 fiscal fell 12.2 per cent to 7,550 tonnes.
At 1115 hrs, black pepper for most-active September contract was up by 0.25 per cent at Rs 14,272 per quintal at the NCDEX counter, while October contract was up 0.10 per cent at Rs 14,560 per quintal.
Tight supply situation in the physical markets following lower arrivals from pepper-growing regions, mainly pushed up the pepper prices at futures market here, said a NCDEX trader.
He said, however, the prices are likely to decline later in the day as pepper prices in global markets are ruling lower.
India's pepper exports during the first three months of 2008-09 fiscal fell 12.2 per cent to 7,550 tonnes.
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