NCDEX UPDATES OF THE WEEK

Pepper futures drooping for second day on short selling at higher levels triggered by weak exports demand for Indian pepper. Tight availability against the strong domestic demand limited the weakness. The NCDEX Pepper for the most active November contract ended the day at Rs 43590, down Rs 160 or 0.37% from the last close.

Pepper arrivals decreased to 180 quintals from 520 quintals and slipped to 200 quintals from 550 quintals over previous close. Black Pepper for ready delivery in Kochi, closed Friday's trading session on secure note with MG-1 at Rs 42,100 and Un-Garbled pepper at Rs 40,600 per 100 kg.

Indian pepper prices were not supporting at higher levels due to the weak export demand for Indian parity due to its higher prices in the international markets. India's total manufacture of pepper during the year 2012 was estimated at 43,000 tonnes against 48,000 tonnes in 2011. India's crop dipped due to old vines, static acreage, low replanting and high labor cost. Besides, unfavorable weather conditions in 2011-12 affected the production. There are news the next year crop will be slightly better around 50,000 tonnes as crop condition in Idukki in Kerala and Karnataka are likely to be better. Indonesia has harvested with yields higher than estimated. Vietnam has exported nearly 93,000 tonnes of pepper valued 636 million USD during the first nine months of 2012. bazaar source said, all eyes are looking at Indonesia and Brazil.

The Pepper futures unsuccessful to hold above Rs 44000 per quintal recently and slip to the low Rs 43300 level on Friday. The answer gain almost Rs 160 or 0.37% to close at Rs 43590 per quintal. The open interest added 2.32% to 4,440 tonnes, representing short selling.Pepper