During the week, the Indian futures market continued to witness The volatility is high after a conflict between speculators. The February contract price, ending on February 20, was pushed up to match the spot price. The March contract, however, is still far below the spot price.
Although there were rumors of increased production in Kerala at the time of harvest, it was not up to the expected level. As a result, supply continues to be limited.
Pressure on the supply is due to some growers arguing that drought in key growing areas has damaged many pepper plants. Therefore, in Idukki district farmers sold green pepper to make dehydrated green pepper.
One of the reasons for the supply pressure is about 6,800 tons of pepper still in stock. The highlight of the March contract is just under 2,300 tons.
The report said agents between the states of Jharkhand and Bihar had moved operations to Chikmagalur in Karnataka, where a new case was starting to appear.
However, some farmers in Chikmagalur think that the main problem is the increasing drought in the growing areas.
In the past week, many real goods were traded at Rs 395 / kg.
March contract on NCDEX increased from the previous week, while others were the opposite. March increased by Rs 935 to Rs 37,835 a quintal (US $ 6,970 per tonne). April and May decreased by Rs 30 and Rs 240 to close at Rs 35,705 / quintal (USD 6,578 / ton) and Rs 34,415 / quintal (USD 6,340 / ton). (1 USD = 54,2821 lakhs)
Total turnover increased by 4,585 tons to 13,458 tons. Total open interest increased by 20 tonnes to 3,466 tonnes.
Spot price decreased by Rs 200 to Rs 39,400 / quintal (equivalent to US $ 7,258 / ton) for the bucket and Rs 40,900 / quintal (US $ 7,535 / ton) for the MG1 selected grade.
Overview scenario
According to estimates from the International Pepper Community (IPC) report at the 40th Annual Meeting, India's total real cargo in 2013 was 85,066 tons, with inventories from 2012 turning to 15,066 tons, in 2013 produced 55,000 tons and imported 15,000 tons.
The IPC sets the scenario for a total of 68,000 tons, which is 43,000 tons for domestic consumption and 25,000 tons for export, and therefore the remaining inventory for 2014 is 17,066 tons.
However, the estimate of regional trade is a total of 88,382 tons, of which last year's inventory shifted to 9,382 tons, producing 62,000 tons and importing 17,000 tons. If domestic consumption is expected to be 43,000 tons, the export is 35,000 tons, it shows that in addition to the total of 78,000 tons, 10,382 tons will be transferred to 2014.
Source Business Line / Giacaphe.vn
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