Pepper plunges on subdued demand

Pepper futures edged lower on Vietnam arrival sentiments which offset decline in arrivals in the domestic market.
As per trade sources, Vietnam farmers are unlikely to sell their produce if the prices continued to decline in the international market scenario.
However undervaluation of Vietnam currency will ameliorate this situation with its conversion surplus against dollar.
In the domestic front, farmers as well as stockiest claim that, pepper production will be comparably lesser than earlier projected figure. Acute labour shortage is creating difficulties in plucking the berries at the top of the tuber.
International price for MG1 grade traded near $5250 -5350 and prices stayed above of other peer competitors’ rate.
Spot prices traded near Rs 22000 per quintal and arrivals from growing areas were limited in the domestic market.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Pepper-plunges-on-subdued-demand-11826.html)