MUMBAI, Feb 11 (Reuters) - India's pepper futures closed lower on Wednesday on lack of demand and negligible export orders, analysts said.
Vietnam will be starting its harvest in coming weeks and this would result in a shift in demand from India to Vietnam as its pepper is quite cheap compared to India , said Alimuhammad Lakdawala, research analyst at Anand Rathi Commodities.
"Pepper should drift down to 11,000 (rupees) by the end of this week," added Lakdawala.
"We expect pepper to touch 11,200/11,000 in a couple of days," said Kotak Commodity Services analyst Fayaz Hudani.
Fears of a fall in crop output from Kerala, the largest producer, capped the downside, analysts said.
Spot prices in the Kochi market fell by 156.35 rupees to 11,719.50 rupees per 100 kg.
Source : REUTERS INDIA