In the past week, pepper prices continued their unstable trend mainly due to the activities of both speculators, who were involved in pulling down and promoting market prices.
While the delivery term of the months is nearing maturity and the number of stocks is decreasing, many traders have tried to buy goods on the spot.
The agent in Tamil Nadu purchased goods based on reports of the pepper processing industry in Erode, Madurai, etc.
Local buyers prefer high-density pepper from Kerala state and low-volume pepper buyers from Karnataka state, 525-535 GL grade priced at Rs 335-345 / kg while grades 500 and below 500 GL is priced at Rs 325 / kg. As a result, Karnataka pepper is believed to be available in many places in Northern India such as in Bihar, Jharkhand, Punjab, Haryana, Jammu and Delhi states due to consumers prefer dark seeds which are not used in the market. high weight.
Limited availability of pepper and high domestic prices paved the way for increased imports in April to February in the fiscal year 2012-2013 to 13,707.62 tons compared to 10,062 tons in the same period of the fiscal year. before. At the same time, India exported only 13,944 tons of pepper in the first 11 months of the past fiscal year compared with 21,053 tons in the same period last year.
Contracts traded, April and May, dropped slightly by Rs 75 and Rs 230 to close on Saturday, April 6 at Rs 35,875 per quintal and Rs 35,725 per quintal (equivalent to US $ 6,545 per ton). and 6,518 USD / ton). (1 USD = 54,810 Rupees)
Total turnover of the week increased by 2,183 tons to 5,405 tons. Total open interest dropped by 327 tonnes to 1,793 tonnes.
Spot prices remained unchanged at Rs 34,800 / quintal (US $ 6,349 / ton) for the pint and 36,300 Rs / quintal (US $ 6,623 / ton) for the MG1 selected grade.
Source Business Line / Giacaphe.vn
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