Pepper futures on National Commodity and Derivatives Exchange Ltd (NCDEX) viewing an upward journey by increasing four per cent to Rs 42,250 a quintal owing tolower inventory in the domestic market, according to BL report. However, the decline in demand for Indian pepper variety in the international markets covered much of the gains. 21 tonnes arrived at the domestic market while the off take was at 20 tonnes on Saturday.
The international market prices was being quoted at $8,400 a tonne (C&F), while Vietnam was offering its produce at $6,000 a tonne for 500 GL, where else Brazil exported pepper at $6,150 a tonne for the B-Asta grade. This year the global production is predicted to raise seven per cent to 3.2 lakh tonnes when compared with 2.98 lakh tonnes in 2011 with a sharp rise of 24 per cent in Indonesia and 10 per cent in Vietnam.