(18/10) – Spot prices hit a record high of Rs 425 for the bucket type and Rs 445 for the selected grade yesterday, Thursday, October 17.
The futures market also witnessed an explosion of limited activity amid tightening real commodities.
In the international market, too, the price of pepper at all origins is very solid.
Spot shipments of 15 farm grade pepper were delivered at Rs 430 a kg, while Rajakumari pepper in Idukki was sold at Rs 435 a kg. But execution goods are not available, market sources said Business Line.
Many local dealers are seeking to buy pepper directly from major markets on cash and on-spot payments. Traders said that there was not much selling pressure. Exporters who previously signed contracts have a hard time finding goods to cover.
On NMCE, November and December contracts increased by Rs 558 and Rs 409, respectively, to Rs 44,865 / quintal and Rs 44,162 / ton (equivalent to US $ 7,341 / ton and US $ 7,226 / ton). (1 USD = 61.1144 lakhs)
On IPSTA, the contracts for October, November and December are unchanged at Rs 44,500 / quintal, Rs 44,700 / quintal and Rs 44,326 / quintal (equivalent to USD 7,281 / ton, USD 7,314 / ton and 7,253 USD /ton). There were 2 tons of pepper traded.
Spot prices increased by Rs 300 on strong demand at Rs 42,500 a quintal (US $ 6,954 per ton) for pepper and to Rs 44,500 per quintal (for US $ 7,281 per ton) for the selected type.
Indian parity in the international market is around USD 7,650 per tonne (c & f) in Europe and USD 7,925 per tonne (c & f) in the United States and is still consistent with other origins. It seems the opportunity for orders to come to Malabar Indian pepper. But, according to commercial sources, the existing pepper being tightened will be a big obstacle.
Source Giacaphe.vn
Source link
