End of the week, despite efforts to pull the market down, pepper prices were still higher than the previous week's close. There are no sellers at lower levels. The efforts of those who hold positions are unlikely to work in their favor. The sellers have tried to control the market again.
Exporters in Karnataka are estimated to have traded 500 tons of pepper to the US market at US $ 6,725 / ton (c & f).
Meanwhile, at the Asta Conference the US multinational companies with multi-origin operations, based in Southeast Asia, have reported only expanding the signing of contracts at reduced prices.
During the week, the contract in May increased all Rs 405 to close on Saturday 4/5 at Rs 35,750 / quintal (equivalent to USD 6,612 / ton). (1 USD = Rs 54,0668)
Total turnover decreased by 314 tonnes to 1,341 tonnes. Total open interest dropped by 383 tonnes to 600 tonnes.
Spot prices of pepper also declined by Rs 100 to close at Rs 34,100 a quintal (US $ 6,307 / ton) for pint and 35,600 Rs / quintal (US $ 6,584 / ton) for MG 1 selected. .
Reports from the ASTA conference currently underway in the US suggest that Karnataka exporters have set pepper prices at US $ 100-150 per ton lower than Malabar c & fNew York.
Dealers in Idukki also buy Karnataka pepper to mix with high-grade pepper and sell to dealers in Tamil Nadu.
Indian parity in the international market was US $ 6,700 / ton (c & f) for shipments to Europe in May and at US $ 6,800 / ton (c & f) for June delivery, Based on the price of IPSTA.
Source Business Line / Giacaphe.vn
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