MUMBAI, Aug 16: Black pepper futures firmed up on the back of heavy covering by domestic dealers on the international pepper exchange here during the week ended August 14. While the spot pepper recouped a part of the losses suffered two weeks back October futures led the rally in the forward segment.Dealers said the prices may go up further this week as the demand scene has been changing for the better. They said there were good enquiries from most of the importing countries including the major market, United States.
However, the market still remains uncertain about the opening of November and December futures. The Forward Market Commission has not so far responded to the request of Indian Pepper and Spices Trade Association's request for permission to open year-end futures. However, the Ipsta authorities were hopeful that the FMC would clear the request soon.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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