Price of futures has tended to vary on the National Commodity Exchange and the IPSTA (of the Indian Spice and Pepper Business Association). Active contracts increased on NMCE but fell on IPSTA on the first trading day of the Monday (July 8).
Spot prices remained unchanged from the previous day's close. Activity is restricted as is evident from net sales and open contracts on national exchanges.
As a result, the price increase was made by buying and selling, aiming to benefit from the 4% daily allowable difference from the IPSTA's 500-day daily fluctuation, the market source said. Business Line.
Due to heavy rain in the main pepper growing areas, especially in the high mountains, the transportation of pepper has been hampered.
As a result, the amount of pepper from the main growing areas has been negligible.
A weaker rupee against the US dollar has made imports more expensive and so demand from value-added industries is also likely to focus on supply from the domestic market.
Estimated domestic demand so will also be better.
Indian special pepper is US $ 7,125 per tonne (c & f) for European deliveries and US $ 7,275 per tonne (c & f) for the United States.
On NMCE, July and August contracts increased by Rs 541 and Rs 309 respectively to close at Rs 40,900 a quintal and Rs 40,950 a quintal (equivalent to $ 6,733 / ton and 6,741 USD / ton). September contract fell by Rs 387 to Rs 39,940 a quintal (equivalent to USD 6,575 / ton). (1 USD = 60.7465 Rupees)
On IPSTA, all active contracts, July, August and September, respectively, decreased by Rs 500, Rs 491 and Rs 491 respectively to Rs 39,274 / quintal, Rs 38,538 / quintal and Rs 38,541 / quint ( equivalent to USD 6,465 / ton, USD 6,344 / ton and USD 6,345 / ton).
Total turnover on NMCE increased by 2 tons to 34 tons. Total net interest dropped by 5 tonnes to 120 tonnes. Spot prices remained unchanged at Rs 38,500 / quintal (US $ 6,338 / ton) for the unfractionated grade and Rs 40,500 / quintal (US $ 6,667 / ton) for the MG1 selected grade, the transaction was still limited.
Source Business Line / Giacaphe.vn
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