September 6: Spot pepper prices remain range bound while futures gained in lacklusrte trading on the domestic segment of the international pepper exchange here during the holiday shortened week ending September 2. While there was a spurt in the arrival of fresh pepper into the market traders were reluctant to lift from the spot market leading to small inventory pile up un the short-run.Traders said that the price would go up in the long-run while it is likely to remain volatile in the short-term. "The actual scenario will emerge only after the shipping for September contract starts", a trader said. He said if the traders have to take cover then the price is expected to firm up immediately.
Trade sources also said that there was no spurt in the export order either from the United States or from the European market. The scenario is likely to change in the next couple of months, the hoped.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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