India pepper ends lower on weak exports, output hopes
MUMBAI, Nov 6 (Reuters) - Indian pepper futures ended lower on Thursday on weak export demand and hopes of higher production, analysts said.
"Prices remain under pressure due to the weak export demand," said Vibhu Ratandhara, an analyst with Bonanza Commodity Brokers Pvt Ltd.
Buyers from US are waiting for new the crop, which is expected to come in early December, he said.
The U.S. has a 60 percent share in India's total pepper exports.
Production is likely to rise in Karnataka, which is also weighing on the sentiment, said an analyst with a Mumbai-based commodity brokerage.
Output in Karnataka, the country's second largest producer, may rise by 10-20 percent due to conducive weather, which weighed on the sentiment, he said.
Spot pepper fell 1.4 percent to 11,443 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:>:
Contract Reuters code Closing price Change in % Continued...
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