Pepper to stay firm

COMMODITY SPIKES

The near-month pepper futures, which were volatile last week, are expected to remain firm this week. According to sources, the global market has seen some recovery in pepper.

"We will see the June contract rising as high as Rs 14,500 next week," said an analyst with Agriwatch Commodities. Last week witnessed good profit-booking due to volatility.

The coming week could see the same trend. Experts added that pepper was strong at Rs 12,600 a quintal. Some overseas enquiries were also reported. By mid-July, crop from Brazil and Indonesia is anticipated.

"This could bring some downward pressure on prices," sources said. On the NCDEX, the June contract closed at Rs 13,889 a quintal, down Rs 9 compared with the previous week's close.