MTECHTIPS:Pepper futures witnessed mixed trend IN Dec Month
Pepper futures witnessed a mixed trend with the near month contract closed higher on extended short covering. The staggered delivery period that started on Wednesday along with higher production prospects, weigh on the price trend. The Open Interest for December contract fell by 1181 tonnes while that of February and March contract increased by 77 tonnes and 90 tonnes correspondingly. As per the recent report from IPC, India is estimated to have exported around 1000 tonnes in October 2012 against 2500 tonnes in October 2011. During Jan-Oct 2012, export from India was around 15700 tonnes as against 18000 tonnes same period last year. Up to December 2012, around 17500 tonnes of pepper is expected to be exported from India.