(December 30) – Last week, the pepper market witnessed Mixed trend when prices fell at the beginning of the week but then increased due to tight supply and limited activities.
Current weather in the northern states of India is very cold combined with the holidays have weakened domestic demand.
Most consumer sellers have bought their products on their line but are not empty. Therefore, they are expected to enter the market in the coming days. Many people have delayed purchases until the new crop.
Current demand is estimated at 4,000 tons per month. The new crop is expected to start from the following weeks of 2014.
If the current trend is any indication that less new total crop production will make the availability maintain tight next year. At the same time, due to the lack of domestic demand, markets are likely to start operating only next week. Following supply will maintain very tight, market sources give Business Line know.
Some pepper from the southern districts of Kerala has low density and high humidity. This quantity is suitable for pepper essential oil extraction industry and has been traded at Rs 450-487 / kg. These are early ripe pepper but have a lower weight. The old pepper crop was traded at 502 – 505 – Rs 508 / kg depending on the quality and production area.
Indian domestic demand has now been met by delivery of small quantities of unallocated pepper in 10 – 15 – 20 – 25 kg bags and by rail to northern Indian markets. Goods delivered to the market in the week term is less than 10 tons per day.
According to official sources, new types of pepper have begun to reach domestic markets.
Expected new crop production in India is estimated at only 45-48,000 tons, the carryover is very limited, so the price reversal occurs only a short time because consumers are waiting from any source due to There has been a supply crisis in Vietnam, Brazil and Indonesia, International Pepper sources (IPC) said.
Market price is still set at a record level of about 8,800 USD / ton.
On NMCE, the contract for the first two months of the week increased by Rs 155 and Rs 221 respectively to Rs 53,050 / quintal and Rs 53,250 / quintal (equivalent to USD 8,564 / ton and 8,596 USD / ton). Turnover decreased by 3 tonnes to 88 tonnes, while open interest remained unchanged at 22 tonnes. (1 USD = 61,945 rupees)
On IPSTA, the contract for the first two months of the week remained unchanged at Rs 53,000 / quintal and Rs 52,029 / quintal (equivalent to USD 8,556 / ton and USD 8,399 / ton). However, the turnover increased by 3 tons to 20 tons.
Spot prices increased by Rs 300 during the week to Rs 50,200 / quintal (US $ 8,104 / ton) for the pint and 52,200 Rs / quintal (US $ 8,427 / ton) for the selected type.
Export prices are at 8,850 USD / ton (c & f) for Europe and 9,100 USD / ton (c & f) for the US.
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Source Giacaphe.vn
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