Pepper futures declined in NCDEX on Monday on weak export demand along with higher productions from Vietnam.
In NCDEX pepper May contract is trading at Rs.38205 per quintal, down by 2.99% on 16:40 IST against the previous close. Open interest of the contract is 5091 lots and volume traded is 2929 lots for the time being.
According to Spices Board of India, exports of Pepper during April 2011-January 2012 rose by 49% and stood at 22,300 tonnes as compared to 14,950 tonnes in corresponding period last year. Month on month rise in the exports of Pepper stood at 12%.
According to Vietnam Ministry of Agriculture and Rural Development (MARD) exports of Black Pepper in 2012 are forecasted to fall by 30 percent to around 86,000 tonnes.
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