Purchasing buckets of black pepper in Dong Nai
In the Indian pepper market, in recent sessions, the transaction is less exciting, but the price of pepper futures continues to trend up.
According to traders, demand for upcoming holidays and winter reserves contributed to pushing prices up, while the real food market of India had to be in mid-December to start taking in new cases.
On NCDEX, the closing price of October contract increased by Rs 220 to Rs 43,905 / quintal, equivalent to USD 8,269 / ton, of November contract increased by Rs 225 to Rs 43,820 / quint, equivalent to USD 8,253 / ton and contract. December copper increased by Rs 250 to Rs 43,055 a quintal, equivalent to USD 8,109 / ton. However, due to the weakening of the Rupee exchange rate, the futures prices were almost unchanged. (1 USD = 53.0938 lakhs).
Spot prices in tandem with the trend in the futures market increased by Rs 200 to Rs 40,400 a quintal (US $ 7,609 a tonne) for pint and Rs 41,900 a quintal (US $ 7,892 a ton). with MG1 selection type.
Indian parity in the international market was US $ 8,600 / ton (c & f) for European deliveries and US $ 8,900 / ton (c & f) for shipments to the US, prices were still higher than other origins.
Economic downturn and tightening spending also make the world pepper market somewhat less active.
Meanwhile, domestic pepper prices eased last week and began to show signs of decline. The reason is that the exporters' inventories are now quite abundant and the importer's demand is not equal to the same period last year.
On Thursday 11/10, the price of black pepper in the Southeast provinces was down to 129-130 thousand VND / kg and the Central Highlands provinces 128-129,000 VND / kg, down 2-3,000 VND / kg compared to last week. The price of black pepper at local pepper growing areas is at the lowest difference.
Meanwhile, the Singapore Mercantile Exchange (SMX) after several prosperous days has almost frozen. No transactions were made during the week. It seems speculators want to use this floor to distract pepper prices of our market.
Export prices of Indonesian black pepper are being sold at US $ 6,880 / ton, and US $ 8,825 / ton (FOB) for white pepper. While Vietnam black pepper grade 500 Gr / l-FAQ offered $ 6,700 / ton and 550 gr / l-FAQ grade offered $ 6,900 / ton, (FOB), unchanged from the previous week. But compared to Indian pepper prices, it is absurd.
The traders said that the amount of pepper in the Southeast region is still very small and the selling power is not significant because the price is tending to weaken.
According to export trading companies, most of Vietnam's pepper exports are under the FAQ standard, which is priced at less than USD 300 per ton for ASTA standard and lower than for white pepper of the same standard. India, Indonesia and Malaysia average about 900 USD / ton.
Source English (TTVN / CafeF)
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