NCDEX pepper weighs down on short sellin

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MUMBAI (Commodity Online): Pepper futures declined Wednesday on short selling by the traders though weak arrivals and limited stocks in the domestic markets limited the downtrend.

At NCDEX pepper December contract is trading at Rs.35520 per quintal, lower by 0.75 per cent on 14:10 IST against the previous close.

In the morning session the contract traded at a range of Rs.35400-35790 per quintal. Open interest of the contract is 9528 lots and volume traded is 1643 lots for the time being.

According to Spices Board of India, exports of Pepper during April 2011- September 2011 stood at 11,250 tonnes as compared to 9,250 tonnes in 2010-11, rise of 22%.

According to International Pepper Community (IPC) exports of Black Pepper during January to October 2011 from six major exporting countries (Brazil, India, Indonesia, Malaysia, Vietnam and Sri Lanka) was around 2.04 lakh tonnes a decline of 4.6% as compared to 2.14 lakh tonne in the same period last year.

Source: http://www.commodityonline.com/futures-trading/market-report/NCDEX-pepper-weighs-down-on-short-selling-26277.html

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