In the past week, although the technical indicators have all dropped because of the insecurity of traders, the price of pepper on the NCDEX futures exchange continues to trend up.
If the situation as it is now there is no sign that after the expiration of the May contract on NCDEX and the June, July and August contracts so far have not been listed on the exchange, it is a business. business pepper uncertain term is likely to terminate.
Therefore, the view of many in the trading world here is that the restoration of the commodity trading centers of the regions is the only solution to all problems. The main reason is from the failure to comply with the quality parameters required by the food safety agency.
Meanwhile, food safety officials are said to have begun taking samples from shipments estimated at 6,800 tonnes held at the warehouse since the last day.
In Week, pepper price continued to increase.
The market remains stable as usual but the volume of transactions has dropped significantly indicating that people are losing interest, market sources said. Business Line know.
Short holders are trying their best to buy back but they can get very little because long holders have forced sellers. Selling pressure in Karnataka has eased after the elections and sellers are said to be waiting for domestic buyers due to buy in cash and make on-premises, they said.
However, in the previous week, in the spot market, pepper Karnataka is traded and a large number of low-weight varieties have been brought to nearly all districts of Kerala.
Black pepper with a weight of 510-525 GL is being traded at Rs 330-335/kg while pepper with a capacity of 500 GL and below were traded at Rs 320-325/kg.
The May contract on NCDEX for the week increased by Rs 510 to Rs 36,395 per quintal (equivalent to $6,641 per ton). ( 1 USD = 54.8043 Rupees )
Total turnover decreased by 638 tons to 703 tons. Total open interest fell by 392 tons to 330 tons.
Pepper price Spot pepper increased by Rs 100 thanks to restrictions on activity at Rs 34,200/quintal (US$6,240/ton) for bucket pepper and Rs 35,700/quintal (US$6,514/ton) for selected pepper.
Pepper The Indian specialty on the international market is at $6,750/ton (c&f) for May and June deliveries.
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