(6/12) – Trend of pepper price in spot market and futures market continued to increase yesterday, Thursday, thanks to good demand in Context of available goods is still tight.
There was no selling pressure. Dealers in the primary market say they haven't even seen a quintal of pepper for even a week.
Pepper farmers and primary market agents are holding back in the hope that prices will reach Rs 600 a kg, some primary market agents in Idukki said.
Due to lower crop estimates, they expressed hope that pepper prices would be firmer in the coming weeks.
Domestic demand in India has begun to rise, a pepper market expert said.
Deliveries continue to maintain tightness. Only 10 tons of farm grade pepper is available on Thursday and 8 tons of pepper are priced at Rs 490-500 depending on the quality and region of production.
On NMCE, the contracts in December and January increased by Rs 304 and Rs 960 to Rs 51,830 a quintal and Rs 52,370 a quintal (equivalent to USD 8,398 / ton and USD 8,485 / ton). (1 USD = 61.7181 lakhs).
Total turnover increased by 4 tons to 21 tons. Total open interest remained unchanged at 13 tonnes.
On IPSTA, all contracts were stable at levels despite previous strong increases, thereby increasing 131 tons to 132 tons, respectively.
Spot prices increased by Rs 200 to Rs 49,000 / quintal (US $ 7,939 / ton) for the pistachio and Rs 51,000 / quintal (US $ 8,263 / ton) for the selected type.
The export price of MG1 special pepper, after increasing with the stronger Rupee against the USD, has risen to 8,775 – 8,800 USD / ton (c & f) for Europe and 9 9,050 USD / ton (c & f) for the US.
Source Giacaphe.vn
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