Pepper market witnessed Some overseas purchases cause the price to drop at weekends.
Domestic demand has been met by supplies from Karnataka with large quantities of low-density pepper at Rs 400 a kg delivered anywhere in the country in cash and executed at the facility.
Last week, buyers from West Asia, mainly from Dubai and Muscat, where by the end of the year became major pepper trading centers, were active at the root price to seek competition. They are shipping pepper to markets in Africa and other regions without selling it directly to Indian exporters, market sources said.
West Asia-based Indian exporters also purchased pepper from Karnataka and Kerala, mainly from the plains.
Dealers from Tamil Nadu bought high-density pepper directly from the door of growers in Idukki at the forward market price in cash and made on the premises. Pepper from the plains was sold at Rs 409 – Rs 410 per kg while pepper from Wayanad was at Rs 413 – Rs 414 and kg in the uplands were traded at Rs 417 – 418 Rs.
Because of the continuous rains, pepper comes from plains that have been infected by fungi and have high humidity. Trade claims that this has pushed up the processing costs.
Contracts operating on the NMCE show an increase. September and October contracts increased by Rs 40 and Rs 756 respectively to Rs 44,610 a quintal and Rs 45,500 a quintal (equivalent to USD 6,837 per ton and USD 6,973 per tonne). (1 USD = 65.2475 Rupees)
Total turnover increased by 13 tons to 150 tons. Total open interest dropped by 14 tonnes to 44 tonnes.
Spot prices increased by Rs 400 on the back of good buying support to close at Rs 40,900 a quintal (US $ 6,268 / ton) for the bucket and Rs 42,900 a quintal (US $ 6,575 per ton) for the selected type. Indian MG1 special pepper on the international market has increased to 6,900 USD / ton (c & f) for delivery to Europe and 7,150 USD / ton (c & f) to the US and back to the competitive price.
Export prices for countries: Vietnam Asta are at 7,100 – 7,150 USD / ton; 550 Gr / l-FAQ at 6,800 USD / ton (FOB price). Brazil Asta was at US $ 6,700 / ton (FOB price) for October and November shipment while B1 was at US $ 6,650 / ton and B2 at US $ 6,400 / ton (FOB price). Lampong 550 Gr / l-FAQ is quoted at USD 7,150 / ton and 500 Gr / l-FAQ at USD 6,600 / ton (FOB price) for September delivery.
Source Giacaphe.vn
Source link
