Tuesday, April 20, 2010

RPT-India pepper up; may swing higher on lower stocks

MUMBAI, April 20 (Reuters) - India pepper futures ended higher on Tuesday and may extend gains on Wednesday on limited supply in the market as farmers await better prices amid low stocks, analysts said.

Prices are moving up due to lack of delivery pressure in the April contract, which is expiring today. Traders are covering their short position to avoid giving delivery as stocks are low, said an analyst from a Kochi based brokerage.

Demand is slow but may pick up once the prices stabilise.

Spot pepper gained 48 rupees to end at 14,986 rupees per 100 kg in Kochi, a major trading hub in Kerala.

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