Pepper ends the day extremely firm

Pepper ends the day extremely firm here in India with prices soaring to a 12 month high.

Markets moving on bullish fundamentals and higher outside support, spill over strength from other commodities apparently lending very good support.

The charge in pepper is led by the lack of sellers on the spot market which continues to spiral on the back of very firm future deliveries and very good buying interest.

Prices on the future deliveries hit the 3 % circuit and closed at the day’s high.
Tight supply conditions continue for spot pepper which is being sought after by domestic traders in particular.
Lower volumes in trade hitting the spot scene with most traders not excited with the rise in prices, since much of pepper has already been out of their hands as of now.

Higher markets from other origins act as a spark to fuel the upward surge

Indian MG I ASTA grade parity at $ 3100 / 3125 PMT FOB Cochin