(December 16) – Indian pepper market exploded last week but on Thursday and Friday there was a downward trend due to selling pressure.
However, during the week, prices in futures market and spot market still increased.
Pepper prices from all other sources have been reported very solidly due to the supply crisis. However, there has been some selling pressure in the Indian domestic market after there was a lot of pepper being held in warehouses of food safety authorities that were allowed to issue.
An estimated 30-40 tonnes of traded pepper has affected the market. Traders in the states of Bihar and Jharkhand reported that agents bought the pepper and sold it to exporters, market sources said. Business Line know.
In addition, new peppercorns mixed with old peppercorns have begun to be introduced to major markets in the delta of Kerala state, which also contributes to the price reduction. In addition, the reprocessing plants are supplied with preliminarily processed pepper at Rs 515 per kg.
Price trends started to decline, showing that domestic buyers are still waiting and watching. The new target report coming to the market this week seems to have created a sense that it will be brought continuously and increasing in the coming days which could push prices further down. Consequently shoppers have left the market in decline. As a result, the market saw limited activity last week.
Visitors to the futures market were almost nonexistent because local dealers bought a small amount of pepper directly at the primary market / grower and shipped out by rail.
Last week saw the supply of fresh pepper mixed with old pepper dripped from different centers in Pathanamthitta, Kottayam and Ernakulam districts of Kerala. Traders are buying pepper directly at the doorstep of growers.
During the week, December and January contracts on NMCE increased by Rs 895 and Rs 728, respectively, to Rs 53,400 / quintal and Rs 53,500 / quintal (equivalent to USD 8,591 / ton and USD 8,607 / ton). (1 USD = Rs 62,160)
Total turnover for the week decreased by 31 tonnes to 64 tonnes while open interest increased by 1 tonnes to 14 tonnes.
On IPSTA, December and January contracts increased by Rs 799 and Rs 1,595, respectively, to Rs 53,099 / quintal and Rs 53,595 / quintal (equivalent to USD 8,542 / ton and USD 8,622 / ton).
Spot spot prices last week increased Rs 1,100 to Rs 50,600 a quintal (US $ 8,140 per ton) for pail and Rs 52,600 a quintal (US $ 8,462 per ton) for the selected type, on Saturday.
Indian parity in the international market was at 8,750 USD / ton (c & f) for Europe and 9,000 USD / ton (c & f) for the United States.
Trends abroad
GPrices of pepper remained firm last week at all origins due to “shortages available at all origins,” according to the International Pepper Community (IPC).
In Lampung (Indonesia), black pepper prices increased by IDR 2,500 / kg, while in Bangka, white pepper prices increased by IDR 9,000 to 124,000 IDR / ton last week.
In Ho Chi Minh City, Vietnam, prices increased by 1% for black pepper and 2% for white pepper.
Indian pepper prices did not attract any buyers but it looked like it was only a matter of time before buyers, an overseas report said on Saturday.
All buyers are now ignoring most of the origins to go to Brazil, they said.
Prices from Brazil are: B-Asta 8,300 USD / ton (fob); B2 500 Gr / l 8,125 USD / ton (FOB price).
The buyer is reporting that Brazil is selling for $ 8,300 USD / tonne (FOB) for January delivery.
Source Giacaphe.vn
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