Last week, pepper futures prices increased slightly due to good demand amid tight supply.
The spot market continued to show an uptrend from the previous week after the tightening of real goods amid strong demand from the domestic market. However, by the end of the week when the price had surpassed Rs 400 a kg, selling pressure was seen.
People holding goods tend to liquidate. Ranjkumari pepper is offered at Rs 425 / kg, while the price in the High Mountains is Rs 410 and in the Delta around Rs 400 – 405 depending on the quality.
At the same time, demand from the domestic market is expected to increase in the coming days after “Pournami” (full moon).
Trade, meanwhile, says that most of the pepper comes from the Plains and Wayanad, which has high humidity and is a kind of fungal infection.
Harvesting in the Palani hills of Tamil Nadu, the Yercaud region is full of surprises, although the yield is much less.
Tamil Nadu has actively relied on federal agents including from Idukki district of Kerala to meet domestic demand. Erode claims to have become a major pepper trading center after turmeric.
Dealers bought in cash and made at the facility right from the farm door and even ready to buy MG 1 pepper at Rs 425 / kg.
September and October contracts on NMCE continued to increase last week and increased by Rs 1,064 and Rs 1,824 to Rs 44,000 and Rs 44,900 per quint (equivalent to US $ 6,922 per ton and US $ 7,063 per ton). (1 USD = 63,5668 Rupees)
Total turnover increased by 29 tonnes to 129 tonnes. Total open interest increased by 20 tonnes to 46 tonnes.
Spot prices also continued to increase by Rs 500 to close at Rs 40,500 a quintal (US $ 6,371 / ton) for the buck and a grade of Rs 42,500 / quintal (US $ 6,686 / ton) for the selected type. .
Indian parity in the international market increased slightly, after the rupee exchange rate strengthened, to US $ 7,025 per tonne (c & f) for European delivery and at US $ 7,275 per tonne (c & f) for US delivery. .
Source Giacaphe.vn
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