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Pepper gains due to lower output
Staff Reporter
KOCHI: Pepper gained significantly during the week ending July 19 aided by sentiment in the spot market that is foreseeing lower production in Vietnam and significantly less rainfall in major growing areas of the State.
Garbled pepper closed the week at Rs.14,800 a tonne, having opened the week at Rs.14,200. Price of ungarbled pepper reflected the trend closing the week at Rs.14,200 from the opening of Rs.13,600. Changes in the futures market too showed similar sentiment with September futures at the beginning of the week at Rs.14,661 and closing at Rs.15,510. October and November futures too showed improvements.
In Kerala, the largest producer of pepper in the country, rainfall was down by 44 per cent while Karnataka experienced an overall shortage of 48 per cent..
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