Yesterday, Monday 5/5, Indian pepper prices rebounded on supply due to tightening while demand is still very high, but no transactions took place on the national commodity floor and floor areas.
Buyers are willing to pay a higher price but sellers are not willing to sell even part of their inventory, market sources said. Business Line know.
On the National Commodity Exchange (NMCE), buyers were offered at Rs 70,745 a quintal ($ 11,747 per tonne), up Rs 1,000 from the previous day's closing price. (1 USD = 60,2249 Rupees)
Similarly, on the floor of the Spice Association (IPSTA), buyers were ready for Rs 67,292 / quintal ($ 11,173 / tonne) for the May contract and the price of Rs 66,292 / quintal (approximately 11,007). USD / ton) for June contract, both with Rs 1,000.
Pepper from the state of Karnataka has begun to market the goods and has been supplied for Rs 690 – 700 Rs. Traders all believe that the price increase is due to strong demand and supply continues to tighten.
On the spot market, 13 tonnes of pepper were delivered and traded at prices of 690 – 700 – 710 lakhs / kg. However, traders said that Rajkumari pepper (Idukki district) was traded at Rs 720 / kg.
Spot prices have increased by Rs 1,000 to Rs 69,000 / quintal (US $ 11,457 / ton) for the pintle and Rs 71,000 / quintal (US $ 11,789 / ton) for the selected type due to very strong demand.
Export price of Indian MG1 pepper increased to US $ 12,400 / ton (c & f) for delivery to Europe and US $ 12,650 / ton (c & f) to the US and it is still priced.
Source Giacaphe.vn
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