NCDEX revives black pepper futures to boost India's price discovery

NCDEX has relaunched Black Pepper Futures on its platform, aiming to establish an India-centric price benchmark for the commodity. The contract will be traded in one-tonne lots priced in rupees per kilogram, with compulsory delivery at warehouses in Kochi within a 60-km radius. India is one of the world's largest producers, consumers and processors of black pepper, but had lacked an active regulated derivatives contract, leaving a gap in global price discovery.