Pepper prices on Indian pepper market were influenced by the downward price psychology. Decreasing transactions on the futures market. However, strong demand and limited supply help keep spot prices stable.
The market fluctuated sharply in the opening session on October 13, hitting the highest level in the session and then gradually decreasing, ending the session with a price lower than the close of the previous session.
Pepper prices in the spot market continued to maintain stable at a high level. Exporters and multinational companies continue to actively buy at prices ranging from Rs 340 – 350 per kg, depending on pepper quality.
Like the futures market, exchange rate fluctuations place exporters as well as buyers in a dilemma. Importers are currently buying pepper for delivery in November 10 and holding December sales contracts due to forecasts that new supply of pepper from Vietnam may be available in the market from the end of December 2011. – early January 2012 due to increased demand for New Year celebrations.
October price of pepper delivered on the NCDEX market decreased by Rs 40, to Rs 36,420 / quintal. Prices for pepper delivered in November and December decreased by Rs 80 and Rs 40 respectively to Rs 37,055 / quintal and Rs 37,640 / quintal, respectively.
Spot prices of pepper remained stable, thanks to good buying power and limited supplies, at Rs 34,000 / quintal for unpeeled pepper and Rs 35,500 / quintal for grade 1 pepper.
Equivalent prices of Indian pepper in the international market were also stable at US $ 8,000 – US $ 8,050 / ton (c & f) in Europe and US $ 8,300 (c & f) in the US, which is the cheapest offer compared to the offers offered by other countries. other supplier.
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