Speculators after pushing prices up, turned to liquidation of goods to make a profit. Switching positions and additional purchases last week also took place.
Currently speculators in the Indian market are liquidating at Rs 400-405 / kg.
Winter pepper demand is only a few weeks away, while supplies in Rajasthan are exhausted, market sources said. Business Line.
In India, the new harvest season is expected to start in mid-December, but conflicting reports have emerged. Some people think that will be a bumper crop with about 65,000 tons, while others estimate production of about 55,000 – 60,000 tons.
Pepper farmers in some areas reported that the number of posts did not increase, but the trees produced a lot of seeds, indicating that more crops will be harvested in the next crop.
It is estimated that there are about 10,000 tons left to meet current demand until mid-December, and the demand will rapidly increase to 7,500 tons / month.
Stockholders expect prices to reach Rs 500 per kg and will not sell until the price is reached.
On the world market, Malabar pepper is still at the highest price of about 8,500 USD / ton (c & f), while pepper from other sources is still below 7,000 USD / ton.
Brazil pepper is considered to be very competitive, while Indonesian and Vietnamese pepper has fallen below US $ 7,000 / ton for ASTA.
Spot prices remained at Rs 40,000 a quintal (US $ 7,663 / ton) for the pint and Rs 41,500 / quintal (US $ 7,950) for the selected grade. (1 USD = 52.1988 Rupee)
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