MTECHTIPS

MTECHTIPS:-India Pepper spot markets dull on price mismatch

Kochi spot markets witnessed no sales for pepper on Monday.There were sellers for ungarbled pepper at the rate of 411/Kg for about 40 tons. But the buyers insisted on Rs.408-409/Kg. In effect the sales did not materialise.Meanwhile on Friday, pepper markets witnessed sales to the tune of 35 tons in Kochi. Ungarbled variety saw sales at the rate of 409/kg for 10 tons of the commodity and 410/Kg for 25 tons thus clocking 35 tons of total sales for that day.“Pepper is still trading in a narrow range between Rs.42900 and Rs.43500 in November contract on NCDEX. It may witness some selling pressure in coming sessions due to the good production expectation. Major support and resistance are at Rs.42900 and Rs.43600 respectively.” said our in-house analysts.