Spot and spot prices continued to increase due to rising demand amid tight supply, and all IPSTA-based contracts closed above their closing prices. previous transaction.
Farmers are said to be retaining their produce, so there is little supply left in the market. The market now has more buyers than sellers.
In Kerala state, the main agents in the market do not receive continuous supply guarantees from farmers, so they do not sell either. There are still many pepper buying agents of Rajkumari (Idukki district) at Rs 355 per kg, but even at that price there will be no sellers in the near future. Currently, some highland pepper is being traded at Rs 353 / kg. In the spot market there were 17 tons of new pepper delivered and 15 tons traded.
Increased rainfall in rural areas of Kerala drastically reduced production at the end of the season.
On IPSTA, July delivery increased by Rs 201 to close at Rs 36,201 / quintal ($ 6,246 / ton). August and September delivery contracts both increased by Rs 29, respectively to close at Rs 36,139 a quintal and Rs 36,140 a quintal (equivalent to USD 6,235 per tonne). (1 USD = 57,963 lakhs)
Spot price increased by Rs 100 to Rs 34,300 a quintal (US $ 5,918 / ton) for the pint and 35,800 Rs / quintal (US $ 6,176 / ton) for the MG1 selected type, due to an increase in demand in the context. Scenes of limited supply.
Indian parity in the international market was trading at US $ 6,425 per tonne (c & f) and remained consistent with the prices of other origins.
There are reports that pepper farmers in Vietnam have decided to hoard their goods again to wait for prices to rise again. Accordingly, the market is forecast to increase by about 50-75 USD / ton.
Source Business Line / Giacaphe.vn
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