(20/10) – Prices continued to heat throughout the week with futures and spot prices rising to historic highs at Rs 429 / kg (pint) and 449 Rupee / kg (selected type) before Sunday close.
Available pepper was tightened at a time when strong domestic demand and stronger markets of other origins drove prices up, market sources said. Business Line. Industrialists and consumer processors hope that prices will fall when around 6,800 tons of pepper are kept in warehouses after months of release.
The needs of the festive and winter seasons have begun to flourish. The consumer market in north India also said there was no inventory and therefore now they are looking to buy from major markets, even buying directly from anywhere available. Traders and professional processors who have sold their stocks are also confirmed to have returned. Therefore, there was a strong need.
The forecast of Indian and foreign agencies for the crop in 2013 of India seems to have been exaggerated by someone following the supply trend so far. A similar situation has recently emerged in other producing countries.
Vietnam pepper prices increased while Indonesia no longer had pepper to sell last week. Therefore, it is reported that there will be a crisis of pepper supply. Currently Brazil is the only source available, however, prices are slightly cheaper. Given the current global scenario there is likely to be some demand for Indian Malabar pepper. However, trade alleges that there are no goods to offer. At the same time the new crop is not ready.
Brine pepper producers have begun buying green pepper brought from the southern districts of Kerala. If all 6,800 tons of pepper are released after the new crop comes to market in the coming months, this could affect prices in the next crop.
Last week, all active contracts on both NMCE and IPSTA exchanges increased. November and December contracts on NMCE increased by Rs 905 and Rs 1,116 to Rs 45,703 and Rs 44,900 a quintal. Contracts on IPSTA increased by all Rs 1,003 and Rs 1,174 to Rs 45,703 / quintal and Rs 45,500 a quintal.
Spot prices in the previous week increased by Rs 1,400 to a record high of Rs 42,900 a quintal (quintal type) and Rs 44,900 a quintal (selected type) on strong demand amid tight supply. In international markets, pepper price continued to maintain firm.
Indian parity, especially due to the stronger rupee exchange rate and rising domestic demand, the MG 1 type is around 7,950 (C&F).
Overseas, Indonesian pepper prices were stable at US $ 7,825 – 7,935 / ton (C&F). Brazilian pepper was also firmer and sellers were more reluctant to report. B Asta is quoted at US $ 7,175 -7,225 / tonne (FOB). Vietnam pepper is relatively stable and is sold at the cheapest price for V Asta at 7,825 – 7,875 tons (C&F).
Source Giacaphe.vn
Source link
