Do More With Reuters
Partner Services

India pepper up on low arrivals, Vietnam price talk

Tue Jun 10, 2008 6:55pm IST
 
Email | Print | | Single Page
[-] Text [+]

MUMBAI, June 10 (Reuters) - Indian pepper futures rose on Tuesday as domestic arrivals decreased due to rains and on talk of a price hike in Vietnam, analysts said.

"Arrivals have come down in the last few days due to heavy rains in Kerala," said Vibhu Ratandhara, an analyst with Bonanza Commodity Brokers Pvt Ltd.

In the physical market, arrivals were about 40 tonnes, down from about 65-70 tonnes last week, said Ajit Khona, a Kochi-based trader.

A hike in prices in Vietnam also boosted the sentiment, said an analyst with Motilal Oswal Commodities Broker Pvt Ltd.

Prices in Vietnam rose about $100 per tonne as farmers were holding back their stocks due to a recent fall in prices during the harvesting season, he said.

Vietnam is the world's largest pepper producer and exporter and higher prices there can bring in more orders for Indian exporters.

The July contract would face resistance at 14,750 rupees and get support at 14,450 rupees, Ratandhara said.

Open interest for July contract rose to 10,158 tonnes from 9,939 tonnes the previous session.

Spot pepper rose 1.1 percent to 14,552 rupees per 100 kg in spices hub of Kochi in Kerala.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article