(2/12) – Last week, while pepper prices continued to rise in other origins, pepper prices were down on spot and Indian futures markets.
The reason for the decline is due to the wedding and election season in some northern Indian states, market sources said Business Line know.
Therefore, there is no activity in the pepper markets because traders do not appear. Weak domestic demand has pushed prices down. On the other hand, those who have thought of the acquisition by absentee traders further exacerbate the market. Reduced selling pressure also causes prices to start dropping from certain areas.
Prices are in great demand for low grade pepper. This type of pepper is added to the bucket or mixed with the pre-prepared pepper for sale. Counterfeiting is now rampant by mixing low-grade pepper, even pepper from high mountains, to 560 Gr / l pepper and above while only 530 – 535 Gr / l pepper.
On weekends, dealers, who have pushed prices up to buy any available pepper on the main markets, and some dealers in the primary markets in Idukki and Wayanad districts (Pulpally and Bathery) , sold when there were no buyers from the domestic markets. This phenomenon has also supported the bearish market.
At the same time, some trade news suggests that once domestic demand recovers, it is due to the ability of existing goods to continue to be tightened in India and all other sources this year and until when the new crop of Vietnam will enter the market around March / April 2014.
During the week, all active contracts on national and regional exchanges plummeted. On NMCE, December and January contracts dropped Rs 1,630 and Rs 1,840 to Rs 50,970 / quintal and Rs 50,850 / quintal (equivalent to USD 8,167 / ton and USD 8,148 / ton). Turnover increased by 45 tonnes to 107 tonnes while open interest increased by 2 tonnes to 8 tonnes.
On IPSTA, all active contracts fell by Rs 1,529 and Rs 2,500, respectively, to Rs 50,800 and Rs 50,000 (equivalent to US $ 8,140 / ton and US $ 8,012 / ton). (1 USD = Rs 62,4064)
Spot spot prices last week fell by Rs 1,100 to close at Rs 48,600 a quintal (US $ 7,788 per tonne) for shovel and Rs 50,600 a quintal (US $ 8,108 per ton) for the selected type.
According to the International Pepper Association (IPC), black pepper prices in producing countries have increased by up to 4%, while prices in India are the exception. In Lampung, local prices increased by IDR 3,500 to 82,500 IDR / kg this week. In Vietnam, it was recorded an increase of 3% for black pepper, from VND 154,500 / kg to VND 157,500 / kg. While in Kochi, spot prices of black pepper buckets fell from Rs 494 a kg at the beginning of the week to Rs 486 a kg on Saturday.
Export price of Indian pepper remained at USD 8,575 / ton (c & f) for Europe and USD 8,825 / ton (c & f) for the US.
Source Giacaphe.vn
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