Spot and spot pepper prices increased last week on the back of good demand amid tight food conditions. All contracts operating on national exchanges were on the rise.
Similarly, spot prices have risen to Rs 400 a kg for buck and Rs 420 a kg for selected grades in the futures market. Small companies have bought in small quantities of high bulk consumption from the plains.
The dealer in Tamil Nadu bought from Idukki farm grade pepper at Rs 400-405 a kg depending on the quality of the item.
Exporters who have imported 500 Gr / l grade at Rs 355 / kg are currently seeking high-density pepper to blend with imports for re-export.
In Tamil Nadu district, the regions of Erode, Cumbum, Theni and Gudalur have become major pepper trading centers because of the light tax. Many local traders have moved their operations to Karnataka state due to the abundance of pepper there.
Last week, all contracts operating on the NMCE increased. September and October contracts increased by Rs 1,021 and Rs 1,459 to Rs 42,970 a quintal and Rs 43,110 a quintal (equivalent to USD 6,963 / ton and USD 6,986 / ton). (1 USD = 61.7104 Rupees)
Total turnover dropped by 2 tonnes to 152 tonnes. Total open interest dropped by 49 tonnes to 26 tonnes.
At the end of the week, the spot price increased by Rs 900 on strong demand amid tightening of real commodities to close at Rs 40,000 / quintal (US $ 6,482 / ton) for the type of pepper and Rs 42,100 / quintal equivalent. 6,822 USD / ton) for MG1 selected type.
In the international market, most customers buy Sri Lanka pepper. Brazil's new crop is expected to be available every month, and Indonesia is now set to begin offering, according to a foreign report.
Prices of Indian pepper for immediate delivery at the end of last week were US $ 7,025 / ton (c & f) for Europe and US $ 7,275 / ton (c & f) for the US and still higher than prices of other origins.
Source Giacaphe.vn
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