( 11/11) – Spot prices hit a historical high of Rs 499 / kg last week as supply continued to tighten, while prices for pepper increased to Rs 479, leaving the impression that prices could go up. Further in the coming days.
In the spot market, only 2 tons of farm grade pepper was delivered and 3 tons were traded. There are no sellers. People with some low-density consumption of the delta are quoted at Rs 470 – 480 per kg. Buyers are looking for high volumes of high density pepper at higher prices but no sellers, market sources said Business Line know.
Domestic agents have been back in operation. Some of them are looking for cheap pepper.
According to trade, about 300 to 400 tons of pepper from the marked number kept at the warehouses have been deleted by the FSSAI agencies and if this release is issued it can help ease the difficulties for those who are running around to Search for pepper.
Right from the beginning of the week, due to strong demand in the context of scarce supply, prices soared. Prices were spurred further by the vigorous activity of those holding the goods in their hands.
The current booming pepper prices may support some of the supply. If growers' claims in some areas of Kerala and Karnataka are credible, the upcoming crop will be much less than what has been recently harvested.
In Kerala state, farmers said that the rains lasted incessantly and the consequences were all sorts of diseases, while farmers in Karnataka state said pepper only yielded good results in previous years. On the international market, prices of all other origins are now very solid due to limited supply.
On NMCE, November and December contracts last week increased by Rs 1,700 and Rs 2,200 to Rs 49,200 and Rs 49,500 / quint (approximately US $ 7,864 / ton and US $ 7,912 / ton) on Saturday. Total turnover increased by 19 tonnes to 63 tonnes. Total open interest remained unchanged at 14 tonnes. (1 USD = Rs 62,564)
Meanwhile, on IPSTA, November and December contracts only increased by Rs 700 and Rs 300 to the same level of Rs 48,000 / quintal (equivalent to US $ 7,672 / ton).
Spot price last week also soared Rs 2,100 to Rs 47,900 a quintal (equivalent to US $ 7,656 / ton) pepper and 49,900 Rs / quintal (US $ 7,976 / ton) for the selected type, on strong demand in the context of Stock availability continues to tighten.
Indian parity in the international market is at 8,350 USD / ton (c & f) in Europe and 8,650 USD / ton for USA and still higher than other origins. Pepper prices of other origins, except Brazil, were reported to be approximately USD 8,000 / ton.
In Sri Lanka, pepper prices increased by 4% and in Vietnam increased by about 2%. In Lampung, local prices of black pepper at Rs 75,500 per kg increased by Rs 1,000 a kg from last week.
Source Giacaphe.vn
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