Indian pepper market in the session on 10/10 increased hot due to strong demand, limited supply. Spot pepper prices hit a record of Rs 33,800/quintal for unclassified pepper and Rs 35,300/quintal for grade 1 pepper.
In the trading session on October 10, spot pepper price increased by Rs 400, reaching a record high of Rs 33,800/quintal for unclassified pepper and Rs 35,300/quintal for grade 1 pepper.
The equivalent price of Indian pepper on the world market is currently at $8,100/ton (c&f) in Europe and $8,300/ton (c&f) in the US. Other suppliers also held their bids.
The market on October 10 opened slightly higher and touched the lowest price in the morning session, then gradually increased and fluctuated at a high price, touching the highest price of the day. During the closing session, the closing price increased compared to the price in the previous trading session.
Exporters, which are likely to receive large orders from importers in the previous trading day, rushed to buy spot pepper on the exchange as currently the supply of pepper is only in stock at the local market. floor. Some traders cannot even compete to buy due to high price volatility in the futures market and limited current supply.
The stock of pepper at the stock exchanges of the exchange is likely to be exhausted before December due to high domestic demand in India.
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