Market pepper Last week witnessed a trend of increasing purchasing power to support well in the context of limited supply.
In the past week, arrivals continued to decline as farmers were hesitant to sell at lower levels. Besides, the rains in the growing areas are also affecting the supply.
Domestic demand has increased as traders are interested in stocking goods before the onset of the rainy season. Next is the demand for type pepper of high density. Sellers do not want to sell at lower rates. Growers in the High Range report that some buyers buy forward market prices in cash and pay on the spot.
The leading exporters were interested in buying for Rs 332 – Rs 333 a kg pepper from Karnataka while Battery and Pulpally sellers in Wayanad district are selling for Rs 342 – Rs 343 / kg. But buyers are quoted 337 – 338 Rupee / kg.
Pepper in the High Range sold for Rs 345 while pepper In Rajakumari, it costs Rs 348. Buyers are quoted at Rs 346.
Due to the summer rains in the growing area pepper main make pepper Delivered to present with humidity as high as 13 – 13.5% compared to the allowed 12%, many traders said, “this phenomenon makes pepper prices scratched “.
During the week, the contracts for June, July and August on IPSTA respectively increased by Rs 175, Rs 224 and Rs 365 to Rs 35,400 / quintal, Rs 35,499 / quintal and Rs 35,690 / quintal (equivalent to $ 6,268 / tons, 6,286 USD / ton and 6,319 USD / ton). (1 USD = 56,4771 Rupees)
Net open interest stood at 29 tonnes, up 6 tonnes. Turnover decreased by 63 tonnes to 459 tonnes.
Pepper prices Spot increased by Rs 100 to Rs 33,700 a quintal (equivalent to US $ 5,967 / ton) for the bucket and Rs 35,200 / quintal (US $ 6,233 / ton) for the selected type.
Pepper Indian specials on the international market are priced at US $ 6,500 per tonne for June delivery and US $ 6,600 a tonne (c & f) for July delivery.
Overseas markets are reported to be sluggish without a clear direction
Source Business Line / Giacaphe.vn
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