Monday, April 11, 2011
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Pepper expected to gain on tight supply
Pepper prices increased strongly due to fresh buying amid tight supply and strong demand. Possibilities of a fall in production too kept sentiments firm in the markets.
Traders anticipate the demand to keep rising at lower levels that could support the rates in the medium term.
According to IPCS 2011 projection, India is expected to produce 48,000 tonnes, down 2,000 tonnes from the last year.
Pepper production in Indonesia and Brazil are projected lower while in Vietnam, the output projected steady this year.
BUY NCDEX PEPPER (MAY) ABOVE 26815 SL 27120 TGT 26650
R1 27100 R2 27250 S1 26550 S2 26320.
Courtesy: Anagram Comtrade Limited
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