(September 30)-Even though there has been a stagnation in the futures and spot pepper markets, a mismatch between supply and demand is likely to keep companies or markets stable at least for the time being. until the end of this year. However, dealers in Tamil Nadu have covered the prices of goods from the high mountains of Kerala.
During the week, some quantity of pepper from Kerala, mainly of low weight, is also being bought by traders at current prices.
The supply of goods transported in the domestic market continues to be in short supply as agents cover prices to meet immediate demand because of the high cost of inventory from Karnataka, related to low-weight consumption priced at Rs 400-405. /kg delivered anywhere in the country.
Last week, contracts trading on the NMCE rose. The October and November contracts increased by Rs 582 and Rs 51, respectively, to last traded prices (LTP) of Rs 43,490/kg and Rs 43,500/kg ($6,958/ton and $6,960/ton respectively). ( 1 USD = 62.5025 Rupees )
Total trading volume fell 14 tons to 172 tons. Total open interest decreased by 19 tons to 20 tons.
Spot prices fell Rs 200 to close at Rs 40,100/quintal ($6,416/ton) for bucket pepper and Rs 42,100/quintal ($6,736/ton) for selected pepper.
Indian specialty pepper in the international market has remained almost stable at $7,125/ton (c&f) for Europe and $7,375/ton (c&f) for the US and has remained competitive. .
According to Mr. S Kannan, executive director of the International Pepper Association (IPC) based in Indonesia, since Vietnam has exported more than 100,000 tons of pepper in the first eight months of 2013, with pepper production Lampung is lower with Indonesia’s limited inventories and Brazil’s production report this year at medium levels, “pepper supplies will not improve between September and December 2013. Stability price of pepper during the year has helped local farmers to sell their pepper without waiting for higher prices”.
According to him, black pepper production in Lampung this year is 15,000 tons lower than about 55,000 tons in 2012. Production in Brazil this year is estimated to be normal. In Vietnam, current inventory estimates are limited. This year’s harvest is about 118,000 tons, while exports from January to August 2013 are about 100,000 tons.
It is known that Lampong’s crop is almost dry and there is no selling pressure from Brazil. Thanks to the supportive rains, 2014 output is likely to be better than 2013, so farmers are advised not to keep a lot of inventory this year.
In the upcoming sessions in Kuching, the IPC will continue to clearly define this issue so that it can come to a conclusion to assess the impact on the pepper industry in general.
He advises farmers to sell this year’s pepper and carry over their 2013 stock and just keep less stock, if preferred.
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