In the last week, pepper prices In both the futures and spot markets tended to increase despite limited activity due to tight supply and a lack of interest.
Although the supply lines for the domestic market did not have any activity as buyers were anxious to wait and predict the release of about 800 tons. pepper at a warehouse in the Saharanpur district (Uttar Pradesh state). Similarly, some buyers in the market believe that some of the sealed goods at Kochi warehouses will be released soon after they are inspected by food safety authorities at designated lab. This has created a gloomy outlook in some parts of the market.
Last week, available goods were tightened as Ramadan holidays and unrelenting rains, floods and landslides disrupted the movement of goods from the high mountain ranges.
As a result, the supply has plummeted. Agents in Tamil Nadu have been actively buying from Kerala. The districts of Erode, Cumbum, Theni and Gudalur have become commercial centers pepper major in Tamil Nadu for tax benefits.
Many domestic traders have shifted their operations to Karnataka by volume pepper available there.
“The ability to export is remotely controlled by pepper Malabar has a high price, while real goods are in short supply, ”the market source said Business Line.
A source of IPSTA said: “In the order authorized by the Futures Market Committee (FMC), we have made daily price fluctuations of Rs 500 – 1,000, effective July 31, and profit has been raised to 20,000 tons. ”Although, the volume of business during the weekend was negligible,
During the week, all contracts operating on NMCE increased.
August and September contracts increased by Rs 508 and Rs 644 to Rs 41,700 a quintal and Rs 42,100 a quintal (equivalent to USD 6,851 per ton and USD 6,917 per tonne). (1 USD = 60.8673 Rupees)
Total turnover decreased by 110 tons to 154 tons. Total open interest dropped by 12 tonnes to 75 tonnes.
Spot price increased by Rs 100 to reference at Rs 39,100 / quintal (equivalent to US $ 6,424 / ton) for the type. pepper bucket and Rs 41,100 / quintal (US $ 6,752 / ton) for MG1 type.
Export demand is not clear, while previous contracts also seem to have slowed down. In the international market, everyone has turned to purchases from Sri Lanka. Predicting a new Brazilian crop will hit the market in September, Indonesia began offering, according to a foreign report said.
Europe has entered the summer vacation last week.
Pepper prices India for immediate delivery on weekends stood at 6,975 USD / ton (c & f) for Europe and 7,225 USD / ton (c & f) for the US, and still higher. pepper prices from other countries.
Source Giacaphe.vn
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