Pepper futures fell Thursday due to subdued demand in the physical markets amid expectations on higher supplies in December from the fresh crop.At NCDEX pepper November contract is trading at Rs.33540 per quintal, lower by 1.48 per cent on 14:55 IST against the previous close.
In the early sessions the contract traded at a range of Rs.33425-34000 per quintal. Open interest of the contract is 8379 lots and volume traded is 3032 lots for the time being.
Pepper farmers are holding their stocks in anticipation of better prices this year against the strong demand and short fall in the crop.
IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carry forward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT.
According to the International Pepper Community, world pepper output this year will fall by about 6,500 tonnes against 2010 to 310,000 tonnes due to unfavorable weather conditions and pests in several producing countries.
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