Last week, the futures pepper market in Kochi-India continued to witness fluctuating prices but activity was limited and tended to be mixed.
The price of pepper increased continuously, it seemed that there was an attempt to pull down the speculation of the prices, while the good purchasing power helped keep the market active. However, both spot and spot prices closed the week lower than the closing prices at the end of last week. The amount of high density pepper is currently very limited.
May deliveries were traded below spot prices. The exporters, the advantage of large export trading companies are multi-origin activities, which cover prices 550 GL is at Rs 345-348 / kg while local dealers have bought high grade 575 GL at Rs 350-352 / kg.
Consumption of GL 500 and below is bought at Rs 320-325 / kg from Wayanad and Karnataka in hand-to-hand manner, market sources said. Business Line.
On the exchange, the holders of the long positions returned. The selling pressure continued to persist in Karnataka and a large number of low-density pepper was sold at low prices.
Merchants from the Ernakulam district of Kerala bought a lot of pepper from Idukki and transported by rail to all domestic markets. Karnataka pepper was sold for Rs 325-330 / kg in cash and delivered anywhere in India at a cost of Rs 10-12 / kg.
On Saturday, April 20, on NCDEX, May contract dropped 245 Rs to close at 35,505 Rs / quintal (equivalent to 6,582 USD / ton). (USD 1 = Rs 53,940)
Total turnover decreased by 607 tons to 3,287 tons. Total open interest dropped by 583 tonnes to 1,175 tonnes.
Pepper price for spot delivery at the end of the week decreased by Rs 200 to close at Rs 34,500 / quintal (equivalent to USD 6,396 / ton) for pail and Rs 36,000 / quintal (equivalent to USD 6,674 / ton) for the selected type.
Trends abroad
Prices of Vietnamese pepper were reported firmer. Exporters in HCMC offered black pepper grade of 500 Gr / l-FAQ at US $ 5,600-5,700 / ton over the weekend.
The Vietnam Pepper Association (VPA) seems to have advised its members not to sell at lower prices.
Vietnam is currently the main exporter in the market, followed by Indonesia and Brazil.
Source Business Line / Giacaphe.vn
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