Pepper futures prices showed a downward trend last week due to liquidation by farmers and traders. However, the spot market remained stable throughout the week until last Saturday to drop Rs 100 a quintal.
Selling pressure has been reported from across Kerala to meet the cash demand spent on the Onam festival. At the same time, demand from exporters as well as from the domestic market is said to be very good. Indian pepper prices are now at a competitive level after the rupee weakened earlier in the week and before. There are several exporters who have made a number of contracts with buyers abroad. Meanwhile, dealers in Tamil Nadu have covered prices from the doorstep of growers in high mountain ranges with forward market prices in cash and on-premises implementation.
High-density pepper supply is too tight. There are reports that in Rajkumari (Idukki) there are buyers of pepper at Rs 420 a kg but there are still no sellers coming.
On the spot, pepper from the plains was sold at Rs 408 – Rs 409 a quintal while pepper from other regions was traded at Rs 410 – Rs 415 per kg depending on the quality and place of production.
By the end of the week, all contracts that are active on NMCE dropped significantly. Specifically, the contracts for September, October and November decreased by Rs 1,242, Rs 1,366 and 1,567 Rs respectively to Rs 43,350 per quintal, Rs 44,100 per quintal and Rs 44,133 per quintal (equivalent to USD 6,827 per tonne). , 6,945 USD / ton and 6,950 USD / ton). (1 USD = 63.50 Rupees)
Total turnover increased by 10 tonnes to 160 tonnes. Last week, total open interest increased by 1 ton to 160 tons. National spot prices dropped by Rs 100 on Saturday to Rs 40,800 a quintal (US $ 6,425 / ton) for the bucket and Rs 42,800 / quintal (US $ 6,740 / ton) for the selected type.
Indian specialty pepper on the international market still stood at 7,100 USD / tonne (c & f) in Europe and 7,350 USD / tonne (c & f) for the United States and kept the price competitive compared to pepper from other sources. .
Source Giacaphe.vn
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