Market pepper last week saw it a gloomy outlook on the National Exchange's (NSEL) financial issues report, has led to panic in the market. Many people who choose to trade on NSEL who are very profitable today have announced to withdraw from the market after being accused of taking bribes.
Besides, the quantity at NSEL, as reported, July 26 was forecast at 820.50 tons in Saharanpur district (state of Uttar Pradesh). Together with good supplies from Sri Lanka at competitive prices, the market declined last week. Quite a number of reported goods have been exported to a number of Southeast Asian countries.
Pepper prices In India, there are signs of declining despite reports that Vietnam, the world's leading producer, bought a huge amount of goods from Sri Lanka. Multinational companies claim to have bought pepper from Sri Lanka to process and re-export from its processing plant in Vietnam, showing that Vietnam's stock has shown signs of decline. Bulk type pepper 500 Gr / l is believed to have been exported to India for USD 5,800 / ton (CIF Kochi). The final cost is calculated at Rs 358 and is thought to be still cheaper.
New arrivals are currently very few so only 1 tonne was traded over the weekend as there was no interest based pepper prices determined by region.
The roads were so bad after the start of the southwest monsoon rains, the truck transport cost doubled and that was one of the reasons for the disruption. Therefore, there are no products from Idukki and Wayanad, while many have high humidity and are contaminated with fungi. Although IPSTA has been allowed to raise the daily trading volatility limit from Rs 500 to Rs 1,000, there seems to be a lack of interest in implementation.
During the week, all active contracts on national exchanges decreased compared to the previous week. The contracts for August, September and October decreased by Rs 330, Rs 644 and Rs 435 respectively, corresponding to Rs 41,180 / quintal, Rs 41,400 / quintal and Rs 41,390 / quintal (equivalent to USD 6,802 / ton, 6,838 USD / tons and 6,836 USD / ton). (1 USD = 60,5453 Rupees)
Total turnover increased by 64 tons to 264 tons. Total open interest increased by 4 tonnes to 87 tonnes.
However, the spot price did not change compared to the end of last week due to limited transactions, remained at Rs 39,000 / quintal (equivalent to US $ 6,441 / ton) for pepper and Rs 41,000 / quintal (equivalent to US $ 6,772). / ton) for type pepper Choose due to demand matching supply.
Pepper Indian specialty on the international market is at USD 6,925 / ton (c & f) Europe and USD 7,175 / ton (c & f) to the US. The report said Europe was on summer holidays so no transactions were found. In Indonesia, meanwhile, there were no harvest workers because the holy month of Ramadan and heavy rain hampered the harvest.
Source Giacaphe.vn
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