(4/11) – Pepper prices have decreased over the past week, although stock availability remains tight. Purchasing activity has slowed as many local dealers turned to Diwali to sell dried fruits during the holiday season, traders said they will return to trading pepper later. “Panchami”, on November 5.
Therefore, pepper prices are currently down in the market, especially for spot products, “Just a temporary phenomenon,” market sources told Business Line.
In the international market, prices offered by companies remain stable in short-term supply. Only Brazil is reported sourcing is currently available.
Demand for the Indian domestic market is expected to increase from the end of next week onwards for winter demands. Similarly, overseas demand may also come for winter, Christmas and New Year needs.
Meanwhile, the availability of goods seems to be limited. The next crop, according to growers in Kerala and Karnataka, may be reduced by 10-20%. If the 2012 crop is estimated at around 50,000 – 55,000 tons, the next crop would be around 50,000 tons, the trader said. Inventory carried over to the next crop is also known as much less. Currently, the incidence of young and green pepper is sold to the processing industry as a sign of subsequent crops.
At this time last year, they said, the processing industry used about 10 – 12 tons per day, as opposed to currently only about 3-4 tons.
Brine pepper producers require young green cherries, while dried green pepper producers require slightly older fruits.
Karnataka said that there was a crop of about 35,000 tons, now almost depleted and those who still hold some items are quoted at Rs 485 – 490 lakhs in cash and done at the facility and this phenomenon for Knowing that many local buyers have turned to Kerala. As a result, a boom in demand from all major North Indian markets has pushed up spot prices for consecutive gains until the end of last week.
On NMCE, November and December contracts for the week increased by Rs 350 and Rs 450 to Rs 47,490 / quintal and Rs 47,320 / quintal (equivalent to US $ 7,691 / ton and US $ 7,663 / ton) on Friday. Seven. (1 USD = 61.7501 lakhs)
However, on the IPSTA, November contract fell by Rs 1,200 to Rs 47,300 / quintal (equivalent to USD 7,660 / ton) while the December contract increased by Rs 20 to Rs 47,700 / quintal (equivalent to USD 7,725 / ton). ). Total turnover on NMCE dropped by 59 tons to 44 tons. Total open interest dropped by 5 tonnes to 14 tonnes.
Spot prices decreased by Rs 600 to Rs 45,800 a quintal (US $ 7,417 per ton) for pepper and to Rs 47,800 a quintal (US $ 7,741 per ton) for selected grade.
Indian parity in the international market increased to 8,100 USD / ton (c & f) to Europe and 8,350 USD / ton (c & f) to the US.
The reported scenarios show that prices from all origins remain firm as global supply continues to tighten.
Source Giacaphe.vn
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