Pepper gains on active buying


Pepper futures edged higher due to improvement in buying interest after the slumped from the peak due to profit booking.
However momentum of the market was subdued due to less volume participation. The possible reason such uncertainty is due to the apprehension of impact in prices due to Vietnam arrivals.
Vietnam currency devaluation due to inflationary pressure will also lower their export prices.
However as earlier stated by Vietnam media sources, vietanam pepper grower are not desperate to liquidate their stocks since they had liquidated much of their carry over stocks due to prolonged higher prices.
Spot market activities in India were limited and spot prices remained steady at Rs 23500 per quintal. Arrivals are not gaining pace since growers’ expect the prices to reach further heights.



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