After the introduction of the future pepper business on the IPSTA platform, pepper prices has increased and all active contracts closed higher than last week.
Pepper Karnataka was supplied for Rs 331 – 333 lakhs / kg and had 48 tons of pepper per day. Pepper from Pulpally and Battery in Kerala's Wayanad district also came and sold for Rs 336 – Rs 337 a kg.
Start harvesting pepper for domestic demand, after the end of the strike of traders in the state of Maharashtra, pepper trading here stopped for about a month.
There are conflicting reports of production in Karnataka. Some have predicted that it will be around 35,000 tons while others claim it will only reach 25,000 – 30,000 tons. Similarly, the production pepper in Kerala will reach 20,000-25,000 tons while in Tamil Nadu about 6,000 tons.
At Pattiveeranpatti of Tamil Nadu, most of the harvest will be used for processing White pepper because seeds are heavy and snare.
In Week, pepper Indian parity in the international market has dropped to 6,500 USD / ton (c & f) due to the decline of the Rupee exchange rate despite the increase pepper prices future. But, foreign buyers have seen and waited in the hope that prices will continue to fall.
Vietnam is believed to have exported about 55,000 tons pepper. They may export more in the next few weeks on worries that Indonesian pepper will start appearing in the market in July. Last week, pepper prices has increased on IPSTA transactions.
June, July and August contracts increased by Rs 557, Rs 512 and Rs 453 respectively to close on Saturday at Rs 35,225 per quintal, Rs 35,275 per quintal and Rs 35,325 per quintal (approximately US $ 6,313 / quintal). tons, USD 6,322 / ton and 6,331 USD / ton). (1USD = 55.7971 Rupees)
Total turnover increased by about 408 tons to 522 tons. Total open interest remained unchanged at 23 tonnes. Pepper prices spot prices remained unchanged at Rs 33,600 a quintal (equivalent 6,022 USD / ton) for pepper and Rs 35,100 / quintal (equivalent 6,291 USD / ton) for MG 1 grade, above demand and supply last week.
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