(14/10) – Last week, pepper prices were heated due to strong demand amid tight supply in the domestic market while prices in other origins remained almost unchanged.
In the futures market and the spot market, transactions were very limited due to limited supply. Only daily traders are active.
Currently, on the world market only in Brazil is available. Therefore, all foreign customers are flocking to this country.
In the domestic market, the stockpile in Karnataka seems to be exhausted. Farmers and agents in Kerala are holding significant quantities but are not in a hurry to sell because they anticipate that prices will reach Rs 500 a kg.
Exporters who signed contracts earlier have been very difficult to fulfill their commitments. Jharkhand and federal agents last week bought pepper at the doorstep of growers at term market prices.
Pepper prices in the international market were almost the same as those of Indian specialty pepper. Therefore, there is a need to look to India. Following the decline in forward pepper at the time of rising copra prices due to high demand from the Navarathri and Diwali festivals, pepper traders have moved to dry coconut trading to date.
On NMCE, October and November contracts for the week increased by Rs 1,225 and Rs 910 to Rs 44,500 per quintal and Rs 44,235 per quintal (equivalent to US $ 7,297 per ton and US $ 7,254 per ton). (1 USD = 60.9832 Rupees)
On the same IPSTA, October and November contracts went up by Rs 1,125 and Rs 1,425 to close at Rs 44,500 and Rs 44,700 / ton (equivalent to $ 7,297 / ton and 7,330 USD / ton) at the end of the week. .
Spot prices soared by Rs 1,100 to close at Rs 41,500 a quintal (equivalent to US $ 6,805 per tonne) for pail and Rs 43,500 a quintal (US $ 7,133 a tonne) for MG 1, at the end of the week. thanks to strong demand amid tight supply.
Indian parity in the international market is at USD 7,500 per tonne (c & f) for Europe and USD 7,800 per tonne (c & f) for the United States, and is still nearly consistent with pepper from other sources.
Source Giacaphe.vn
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