Pepper Zooms Again On Strong Buying Activity Pepper futures spurted further on strong demand and tight supply situations. The NMCE November delivery ended the day at Rs 47720, up Rs 99 or 0.21% from last close. Vietnam exported 1,25,000 tonnes of pepper with value of USD831 million during the last ten months estimated, up 21.70% and surged 19.20% respectively in volume and value terms, monthly General Department of Vietnam Customs export data showed. The market was quite firm during the last week and prices at all producing countries had increased further. Significant increases were recorded for local price prevailed in Brazil and Sri Lanka. Short supply situation is the main reason for this continuation of price increase. Recent harvest in Brazil is likely not adequate to cover the shortage of supply from other sources. Pepper futures surged further on strong demand and bullish global cues. The NMCE Pepper for the November delivery touched the life time high price of Rs 47990 per quintal. The counter ended the day at Rs 47720, up Rs 99 or 0.21% from last close. Powered by Commodity Insights
Posted on: Thu, 07 Nov 2013 04:00:28 +0000
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