Pepper Touches New Contract High On Supply Trepidation

Pepper futures scaled new contract highs in today's trading on the back of receding stocks in major producing states. The NCDEX pepper futures have reported the gains of over Rs. 600 per quintal today.

As per market sources, most of the mandies of pepper have reported very low stocks so far from the last one week due to poor production in domestic market along with restricted selling by farmers.This has also routed the international buyers towards Vietnam market. Vietnam has shipped almost 23 per cent of their fresh crop, signaling some interesting developments in the global black pepper mart. The country, which is estimated to have a crop size of 950000-100000 tonnes this season, has already exported 25,000 tonnes.

The NCDEX May pepper futures touched the new contract high in today's trading and was trading at Rs. 28450 per quintal with the gains of over Rs. 600 per quintal today.

(Source: http://www.indiainfoline.com/Markets/News/Pepper-Touches-New-Contract-High-On-Supply-Trepidation/3660851656)