Last week, the price of pepper futures on NCDEX-Kochi was relatively stable. However, the price of pepper futures and spot price of pepper have reached more equal. At the maturity of the March futures contract, three tons of pepper were delivered.
However, unlike in the past, the volume was only three tons while spot and futures prices were nearly converging.
In the domestic market, interstate dealers on behalf of dealers across the country buy raw materials directly from the primary market or growers at forward market prices and transport by rail to the delivery points. Goods all over the country.
To get a “C” certification in the north Indian market is very difficult, goods are shipped out without any documents. In addition, the payment of money is also said to be “very much,” so some traders seem to prefer shipping without paperwork.
On the other hand, the end of a financial year is just a reason for doing so. Because farmers now receive the futures market price at their doorsteps, they sell pepper to traders.
Therefore, arrivals in the futures market were tightened. Doing business has shown that the uptrend is crucial. Overall, the futures market was very volatile last week. The June contract was not listed on the exchange without the approval of the Futures Market Committee (FMC) and it should be understood that all quality parameters must be adjusted and followed.
In Karnataka the selling pressure was sustained and the state supplied pepper with a density of 525-540 G / L at Rs 335-345 / kg, and an estimated 55 tons of pepper with a moisture content of around 13-13. , 5% were traded based on Kochi, India's leading export market for pepper. Karnataka's pepper exports are also based on Kochi and are shipped from Mangalore port.
During the week, April and May contracts increased by Rs 225 and Rs 205 respectively, closing the weekend sessions at Rs 35,975 / quintal and Rs 35,920 / quintal (equivalent to USD 6,619 / ton and USD 6,609 / ton). ). (1 USD = Rs 54.3490)
Total turnover dropped by 4,358 tonnes to close at 8,447 tonnes suggesting declining activity. Total open interest dropped by 304 tonnes to 2,289 tonnes.
Spot prices eased by Rs 200 to close at Rs 34,800 a quintal (US $ 6,403 per ton) for pail and Rs 36,300 a quintal (US $ 6,679 per ton) for MG 1 option.
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