MUMBAI, Sept 22 (Reuters) - India pepper futures ended up as domestic demand during the ongoing festive season along with low stocks and reviving exports supported sentiment, analysts said.
Decreasing price gap with leading global exporters also aided the upside as it is increasingly bringing back export attention to India, analysts said.
"India's MG1 ASTA grade pepper was offered at $3,080-3,100 per tonne, while rates of Vietnam's ASTA was at $3,250 per tonne and that of Brazil was at $2,850-2,900 per tonne," said Pranav Mer, an analyst with India Infoline.
Gains in the coming sessions, however, will be capped by the new crop from Brazil, which hit the international markets earlier this month.
Spot pepper rose by over 76 rupees and ended at 14,366.6 rupees per 100 kg in Kochi, a major trading hub in Kerala.
Following are the closing prices of pepper futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd.
Source : REUTERS