In the past week, although the technical indicators are down because of the insecurity of traders but pepper prices On the NCDEX, the futures market continued to trend up.
If the current situation does not show any signs that after the expiry of the May contract on NCDEX and the contracts June, July and August have so far not listed on the floor as a business joint pepper Uncertain terms are likely to end.
Therefore, the opinion of many of the commercial business here is that the restoration of regional trade centers are the only solution to any problem. The main reason is the failure to comply with the quality specifications required by the food safety agency.
Meanwhile, food safety officials are said to have begun sampling from shipments estimated at 6,800 tons kept in storage from the last day.
In Week, pepper prices continue to trend up.
The market remained stable normally but the volume of transactions dropped significantly suggesting that people were losing interest, market sources said. Business Line know.
Short position holders are trying their best to buy back but they may receive little because the long position holders have forced the seller. Selling pressure in Karnataka has eased after elections and sellers are supposed to wait for local buyers due to buy in cash and carry out on-premises, they said.
However, in the previous week, in the spot market, pepper Karnataka was traded and a large number of low-density types were brought to almost all Kerala districts.
Black pepper with a weight of 510-525 GL is being traded at Rs 330-335 / kg meanwhile pepper with a density of 500 GL and lower were traded at Rs 320-325 / kg.
May contract on NCDEX increased by Rs 510 to Rs 36,395 / quintal (equivalent to $ 6,641 / ton). (1 USD = 54.803 Rupees)
Total turnover decreased by 638 tons to 703 tons. Total open interest dropped by 392 tonnes to 330 tonnes.
Pepper prices Spot price increased by Rs 100 due to limited activity at Rs 34,200 / quintal (equivalent to USD 6,240 / ton) for pail and Rs 35,700 / quintal (USD 6,514 / ton) for the selected type.
Pepper Indian parcels on the international market were US $ 6,750 / ton (c & f) for May and June deliveries.
Source Business Line / Giacaphe.vn
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