Indian pepper market was active again due to good demand amid tight supply yesterday, Wednesday 23/1, and all contracts were traded much higher on closing prices. the previous session.
February opened at Rs 37,250 a quintal, at the end of the day it dropped by Rs 150 and traded at high volatility. Closing time increased sharply by Rs 650 to Rs 37,900 a quintal. Final trading price (LTP) at Rs 37,780 a quintal.
Low number of customers because farmers have replaced the amount of goods that they have liquidated before. In addition, green pepper is harvested and sold to Idukki's processing industry, especially to units near Kumily, trade sources said. Business Line.
At the same time, worries about the 8,000 tons of pepper being kept in the warehouse also supported the price increase. Today 7 tons of pepper came from selected areas and traded at Rs 385-405 / kg.
At the end of the session, February contract price on NCDEX increased by Rs 450 to close at Rs 37,795 / quintal (equivalent to USD 7,050 / ton). March and April increased by Rs 535 and Rs 95 respectively to close at Rs 35,780 a quintal (USD 6,674 per tonne) and Rs 34,540 a quintal (USD 6,443 per tonne). (1 USD = 53.6085 Rupees)
Total revenue increased by 486 tons to 1,463 tons. Total open interest increased by 170 tonnes to 3,400 tonnes.
February open interest increased by 29 tonnes to 1456 tonnes, while open interest in March and April increased by 98 tonnes and 43 tonnes respectively to close at 1363 tonnes and 449 tonnes.
Spot prices, in tandem with the trend of the futures market and tight supply, increased Rs 300 to close at Rs 38,800 a quintal (US $ 7,238 per ton) for un-graded and Rs 40,300 a quintal. equivalent to USD 7,517 / ton) for MG1 type.
Indian special pepper on the international market is USD 8,300 / tonne (C&F) for January delivery, February delivery is USD 7,500 / ton and for March delivery is USD 7,100-7,200 USD / ton (C&F). Exporters said they calculated it in their own way and were not based on future exchange rates.
Source Business Line / Giacaphe.vn
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