Price of futures was almost stable with September contract falling slightly, while October contract increased slightly on national trading platform NMCE.
However, the spot market continued to boom on strong demand in the context of limited supply.
Dealers in due country also expressed interest to buy. There are more buyers than sellers, market sources for Business Line know.
The volatility of the Rupee also affects the market. Some traders have the opinion that if 6,800 tons of pepper locked in the warehouse are processed and released, it could solve the supply problem. At the same time, the insights presented by the trade about whether 1,000 tons of pepper stored in the Saharanpurs warehouses will be released or not.
Agents in Tamil Nadu are based on federal agents purchased from the doorstep of farmers in Idukki Kerala district at forward market prices in cash and on-site payments. Domestic consumption is allowed to import cheap pepper materials such as chestnut …
Pepper from the plains was traded at Rs 407 – Rs 409 a kg, while Pulpally and Bathery from Wayanad were sold at Rs 413 – Rs 414. High density pepper, including from Rajkumari area, was traded at Rs 417 – 418 Rs.
On the spot, 32 tons of farm grade pepper were delivered and 35 tons of raw material were traded at Rs 407 – Rs 409 / kg.
September contract on NMCE dropped by Rs 169 to Rs 44,401 (USD 6,726 / ton), while October contract increased by Rs 6 to Rs 44,750 / kg (USD 6,779 / ton). (1 USD = 66,0175 Rupees)
Total open interest dropped by 9 tonnes to 49 tonnes. Total revenue increased by about 1 ton to 25 tons.
The spot market increased by Rs 200, on a tight supply due to good demand, to close at Rs 40,700 per quintal (equivalent to USD 6,165 per tonne) for pint and 42,700 rupees per quintal (equivalent to USD 6,468 per tonne). ) for the selected type.
Indian parity in the international market remained unchanged at 6,900 USD / ton (c & f) to Europe and 7,150 USD / ton (c & f) to the US.
Source Giacaphe.vn
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