India pepper futures fall on low prices in Vietnam
MUMBAI, April 25 (Reuters) - Indian pepper futures fell on Friday on lower prices in Vietnam and profit-taking, analysts said.
"The prices in Vietnam are still lower due to the harvesting season there," said Kunal Shah, an analyst with Motilal Oswal Commodities Broker Pvt Ltd.
Prices in Vietnam were ruling at about $3,400 per tonne, while in India prices were about $3,700, he said.
In Vietnam, the world's largest pepper producer and exporter, harvesting starts in March and continues through April.
Traders booked profits after a recent rise, which pulled down the market, said Veeresh Hiremath, an analyst with Karvy Comtrade Ltd.
The benchmark June contract fell about four percent in the last two trading sessions, the exchange data showed.
June pepper would get support at 14,600 rupees and face resistance at 14,850 rupees, Shah said.
Spot pepper fell 0.4 percent to 14,404 rupees per 100 kg in spices hub of Kochi in Kerala.
Following are the closing prices of pepper futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd. <0#NPE:>: Continued...
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and ratcheted up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
