In the past week, pepper prices continued their unstable trend mainly due to the activities of both speculators, who participated in pulling down and boosting market prices.
While the futures of the months are about to expire and the number of stocks is dwindling, many traders have been trying to buy on the spot.
The agent in Tamil Nadu made the purchase based on the reports of the crushed pepper processing industry in Erode, Madurai, etc.
Local buyers prefer to buy high density pepper from Kerala state and those who need low weight pepper buy from Karnataka state, 525-535 GL weight is priced at Rs 335-345/kg while 500 and below grade are priced at Rs 335-345/kg. 500 GL is priced at Rs 325/kg. As a result, Karnataka pepper is said to be available in many parts of the Northern Indian market such as in the states of Bihar, Jharkhand, Punjab, Haryana, Jammu and Delhi as consumers prefer dark seeds but not those with added content. high weight.
Very limited pepper availability and high local prices paved the way for an increase in imports in April-February 2012-2013 to 13,707.62 tonnes compared to 10,062 tonnes in the same period of the fiscal year 2012-2013. before. At the same time, India exported only 13,944 tons of pepper in the first 11 months of the last financial year compared to 21,053 tons in the same period of the previous financial year.
The active contracts, April and May, fell slightly by Rs 75 and Rs 230 to close on Saturday, April 6 at Rs 35,875 per quintal and Rs 35,725 per quintal (equivalent to $6,545 per tonne) and 6,518 USD/ton). ( 1 USD = 54,810 Rupees )
Total trading volume for the week increased by 2,183 tons to 5,405 tons. Total open interest fell 327 tonnes to 1,793 tonnes.
Spot prices remained unchanged at Rs 34,800/quintal ($6,349/ton) for bucket pepper and Rs 36,300/quintal ($6,623/ton) for MG1.
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