Pepper prices yesterday, Wednesday, April 10, remained stable after active contracts were limited to a slight increase in prices and the remaining contract was almost unchanged.
There was a liquidation of the April contract, albeit in a small amount, while there was a transition to May. Turnover and open interest rates increased. The market continued to remain stable while sellers tried to pressure liquidation.
On the spot, there is selling pressure in Karnataka. A lot of pepper has been moved to Erode in Tamil Nadu district.
Pepper from Karnataka state is organized in an organized way to other parts of the country in order to evade the tax of Rs 8-10 per kg, the alleged trader. This is having a negative impact on the market.
There were 70 tons of new pepper from all sources brought in and were traded immediately with an average price of about Rs 347 / kg.
April contract on NCDEX increased Rs 45 to Rs 35,940 per quintal (USD 6,591 per tonne), while May contract dropped only Rs 5 to Rs 35,660 per quintal (USD 6,539 per tonne). ). (1 USD = 54.5310 Rupees)
Total turnover increased by 191 tons to 929 tons. Total open interest increased by 62 tonnes to 1,808 tonnes.
April open interest dropped by 22 tonnes to 316 tonnes, while open interest in May increased by 74 tonnes to 1,492 tonnes.
Spot prices, unchanged for the past few days, were at Rs 34,700 a quintal (US $ 6,363 / ton) for the pint and 36,200 Rs / quintal (US $ 6,638 / ton) for MG1 selected.
Indian parity in the international market was 6,900 USD / ton (c & f) for prompt shipment, while in April delivery 6,800 USD / ton (c & f) and for May delivery 6,750 USD / ton. (c & f).
According to foreign reports, today Vietnam Asta pepper was traded at 6,625 USD / tonne (c & f) for US shipments in April and the first half of May.
Source Business Line / Giacaphe.vn
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