Pepper market yesterday, Friday 4/1, increased due to strong domestic demand in the context of limited food. All contracts closed higher than the previous close.
Tightening spot pepper was evidence that delivery was not as expected. Eight tons of new pepper were delivered and sold out for Rs 365 – 385 / kg. Demand for high-density pepper is good, but it is currently unavailable, market sources said Business Line.
Yesterday, on the floor of the Indian Spice and Pepper Trade Association (IPSTA), 20 tons of pepper were traded. Closing prices for January, February, and March contracts were Rs 39,570 a quintal, Rs 36,611 a quintal, and Rs 36,019 a quintal.
On NCDEX, February contract increased by Rs 405 and closed at Rs 35,315 / quintal (equivalent to USD 6,408 / ton). The March contract increased by Rs 285 to Rs 34,285 / quintal (US $ 6,221 / ton) and in April increased by Rs 100 to Rs 33,940 / quintal (US $ 6,158 / ton). (1 USD = 55.1145 lakhs)
Total turnover increased by 667 tons to 2,310 tons. Total open interest dropped by 99 tonnes to close at 3,622 tonnes.
February open interest dropped by 103 tonnes to 2,704 tonnes and March open interest dropped by 11 tonnes to 684 tonnes, while April open interest increased by 15 tonnes to 212 tonnes.
Spot prices, supported by purchases in the context of limited supply, increased by Rs 200 and closed at Rs 37,300 a quintal (US $ 6,768 per tonne) for shovel, and Rs 38,800 per ton. quintal (equivalent to USD 7,040 / ton) for MG1 selected pepper.
On the world market, Indian parity was valued at US $ 7,300 / ton (c & f) for January delivery and US $ 6,700 / ton (c & f) for February delivery.
Source Business Line / Giacaphe.vn
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