Sharekhan Commodities Buzz dated May 18, 2007

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May 18, 2007, 4:14:46 AM5/18/07

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Commodities Buzz
[May 18, 2007] Please see the attachment for details

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Summary of Contents

COMMODITIES BUZZ

Pepper: No export subsidy renewal

According to Spices Board Chairman VJ Kurien, the commerce ministry has no plans to give export subsidy for pepper as of now. Pepper prices have now almost doubled from a year ago and exports would be sustained without any subsidy support, he said. Export subsidy of Rs7 per kg was introduced in October 2005 when pepper prices were ruling at a low of around Rs60 per kg. In 2006-07 (April- March) India exported 28,750 tonne pepper worth Rs3.06 bn compared with 17,363 tonne for Rs1.50 bn a year earlier.

Regards,
The Sharekhan Research Team

myac...@sharekhan.com

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