In the last week, pepper market witnessed limited activity but with high volatility and slight price increases. This has defied concerted efforts to pull prices down, buying activity over the weekend.
On the exchange, those who held long positions returned to sell while those who had long positions were liquidated including spot goods. Exporters have also purchased goods on the spot.
Exporters have left both the exchange and the spot market to conduct transactions. Meanwhile, the position holder offered an attractive price to the position holder, the market source said. The difference between April and April delivery pepper prices The spot price is narrowing and likely to converge when ripe. According to the trade, on Friday the selling price increased by Rs 300 a quintal compared to the buying price and thus the buying and selling prices were outside Rs 300.
The April contract will expire on April 18, two days before the normal maturity date on the 20th. Because the 20th falls on a Saturday, the 19th is needed, but it is also the Ramnavami holiday.
The downtrend is still continuing pepper market because sellers have tried to pressure buyers to liquidate.
The amount of goods is moderate
Spot purchases continue to remain moderate in Kerala and very much in Karnataka. Karnataka pepper has been moved throughout the country and especially to the southern market.
Dealers from Karnataka bought high-density pepper from Idukki Kerala district mixed with their pepper to make 550-560 GL and supplied at Rs 340 / kg. Pepper over 500 GL was sold at Rs 325-330 / kg and pepper below 500 GL was at Rs 310-315 / kg, dealers said.
Impurities such as filigree are also mixed with pepper to sell to those who want very cheap goods. Therefore, there is a great need for criteria criteria. Pepper from major production centers in Karnataka, such as Chikmagaluru, Sakleshpur, Virajpet and Madikeri in Karnataka, has been organized to transport across the country.
Shipments from major markets have shrunk as interstate pepper dealers have been bought directly from growers or primary market agents at the cash futures market prices and purchased at basis.
Most of the need pepper The country's supply is met by Karnataka supply at relatively low prices. But high-density pepper is rare, commercial sources said.
During the week, April and May contracts on NCDEX increased slightly by Rs 325 and Rs 25 respectively to close at Rs 36,200 and Rs 35,760 a quintal (equivalent to USD 6,627 / ton and USD 6,547 / ton). April delivery prices converged on Saturday spot prices. (1 USD = Rs 54,6209)
Total turnover dropped by 1,511 tonnes to 3,894 tonnes at the end of the week. Total open interest dropped by 35 tonnes to 1,758 tonnes.
On Saturday, April 13, spot price decreased by Rs 100 to close at Rs 34,700 a quintal (US $ 6,353 per tonne) for pail and Rs 36,200 a quintal (US $ 6,627 a ton) for Select type MG1.
Source Business Line / Giacaphe.vn
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