Last week, the market term pepper witnessed a tight supply situation while India's domestic demand was booming.
Goods stored in traders' stores that sell directly to domestic consumers are currently scarce and insufficient to supply the market, so they are increasing purchases.
At the same time, the continuous weakening of the Rupee against the US dollar has caused the import pepper India's become expensive and unworkable, forcing the value-added industry to come back to collect pepper Low cost of low volume from domestic sources in large quantities.
This phenomenon, coupled with a surge in domestic demand, has caused buyers and sellers in Karnataka to push prices up.
Meanwhile, large traders in India said the constant tightening of supply has put them in a difficult situation, especially when farmers do not sell products, and those who want to sell do not sell with. price below Rs 400 / kg.
At planting areas pepper Rajasthan, Madhya Pradesh, Maharashtra, Delhi, Bihar, Jharkhand in Karnataka are covered by them in significant quantities at Rs 350 – 375 Rs.
Rain does not stop in the growing areas pepper In Kerala, production has plummeted.
Stock availability was tightened by strong demand, which pushed up spot prices.
At the same time, according to the provisions of the trade, the ceiling price increase of 4% per day continues to be valid for the product. term pepper started trading at the Indian Commodity Exchange recently.
All active contracts have a strong increase on NMCE.
In Week, pepper prices July, August and September terms increased sharply by Rs 2,509, Rs 2,046 and Rs 1,664 to close at Rs 38,750 a quintal, Rs 38,980 a quintal and Rs 38,780 a quintal (equivalent to USD 6,537 per tonne, respectively). 6,576 USD / ton and 6,543 USD / ton). (1 USD = 59.2737 Rupees)
Open interest increased by 71 tonnes to 91 tonnes. Total turnover increased by 12 tons to 410 tons.
Spot price increased by Rs 1,500 to close at Rs 35,700 a quintal (equivalent to USD 6,023 / ton) for the type pepper bucket and Rs 37,200 / quintal (US $ 6,276 / ton) for MG1 selected pepper due to tightening of supply amid strong demand.
Pepper prices India in the international market, for July delivery at the price of IPSTA is at 6,600 USD / ton. (c & f), while on India's national cargo floors is higher, at 6,800 USD / ton (c & f).
Sources said that farmers are still holding back products, so there is very little stock on the market. Buyers are more than sellers.
Source Giacaphe.vn
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