Pepper prices in the Indian pepper market are dominated by bearish sentiment. Trading fell on the futures market. However, strong demand and limited supply help keep spot pepper prices stable.
The market fluctuated strongly in the opening session of October 13, reaching the highest level in the session and then gradually decreasing, ending the session with a price lower than the closing level of the previous session.
Pepper prices in the spot market continued to remain stable at high levels. Exporters and multinational companies continue to actively purchase with prices ranging from Rs 340-350/kg, depending on the quality of pepper.
Like the futures market, exchange rate fluctuations put exporters and buyers alike in a dilemma. Importers are currently buying pepper for October/November delivery and holding December sales contracts due to the forecast that a new supply of pepper from Vietnam may be available in the market from the end of December 2011. – early January 2012 due to high demand for New Year celebrations.
Pepper price for October delivery on the NCDEX market fell by Rs 40, to Rs 36,420/quintal. Pepper prices for November and December delivery fell by Rs 80 and Rs 40, respectively, to Rs 37,055 per quintal and Rs 37,640 per quintal.
Spot pepper prices remained stable thanks to good buying and limited supply, at Rs 34,000/quintal for unclassified pepper and Rs 35,500/quintal for grade 1 pepper.
Equivalent prices of Indian pepper in the international market are also stable at $8,000-8,050 per ton (c&f) in Europe and $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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