Last week, the pepper market witnessed the usual fluctuation as last week also. The volatility appears to have been created by the position holders that show strong sales and as the prices of the futures are trading down at the beginning of the week and inching up in the following then closing slightly down from the closing levels. last weekend.
Total outstanding position was at 983 tons on Saturday. The stocks on the trading floor are said to be “0” tons.
Those with long positions, with commitments and hedging themselves on the exchange, are now expected to deliver. But, in the absence of available goods, delivery seems to be difficult and so they may have to deal with some at a low price, market sources said on Business Line. “Everything is on paper, not pepper,” they said.
Sellers who have worked hard to pull the market down are buying back. Spot and futures prices did not converge.
At the end of the week, the contract in May decreased Rs 155 to Rs 35,345 / quintal (equivalent to USD 6,500 / ton). Total turnover dropped by 1,217 tonnes to 1,655 tonnes. Total open interest dropped by 192 tonnes to 983 tonnes.
Spot prices, in tandem with the futures market, also dropped by Rs 300 to Rs 34,200 per quintal (equivalent to US $ 6,289 / ton) for pint and 35,700 Rs / quintal (US $ 6,565 / ton) for the selected type. MG1. (1 USD = 54,380 Rupees)
On the spot, new pepper was delivered daily with average volume and all were traded on the road with an average price of Rs 342 – Rs 346 per kg last week.
According to trade, all domestic markets are empty when they are buying immediately with the hope that prices will fall. Karnataka sold less weight than 510 – 520 GL at Rs 310 – 320 and delivered anywhere in India.
In an effort to exploit demand from some domestic markets, pepper was allegedly blended with lower grade pepper from several centers in Kerala Ernakulam district and sent by rail to the Northern markets. India.
Meeting of IPSTA
Overseas buyers are requesting pricing for June / July / August. But, as the price has not been listed yet and the futures cannot be traded, exporters cannot give any indication of the price.
The meeting of IPSTA (Indian Spices and Spices Trade Association) was held on Wednesday night and according to sources, “everyone expressed their opinion that IPSTA should use regional specific goods. to activate commercial help. Besides, they stated, all IPSTA quality parameters are in compliance with the requirements of the Food Safety Authority and will therefore receive the permission of the Term Market Committee. Delegates also said that the deposit per unit of transactions must be raised to Rs 10,000 per tonne as the frost is rising. ”
At the end of the week, Indian parity in the international market was at US $ 6,800 / ton (c & f) for prompt delivery and US $ 6,700 / ton for May shipment.
Source Business Line / Giacaphe.vn
Source link
