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Monday, May 24, 1999

Kochi pepper up on tight supply 

P Vinod Kumar  
Kochi: Cash prices of black pepper recouped its monthly losses at the Kochi pepper market here following tight supply scene and fresh demand from major consuming countries. Traders said, spot prices remained buoyant most part of the week fuelled by short supply in the market.

However, prices experienced a technical correction on Friday, they added. The shortage in global market, especially the thin supply from Vietnam and Malaysia also helped Malabar pepper to gain grounds this week, they said. "Heavy rains have put the supply chain out of gear. Going by the weather forecast, which predicted continuous rain for another three to four days, prices are likely to be remain uppish in the coming week as well," a trader said.

Heavy rain in Vietnam and pepper growing areas in Malaysia have also helped Indian prices to firm up, they added. Vietnam was undercutting India in major markets for quite sometime putting pressure on Indian prices.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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