Activities in the market are very limited at the moment, buyers have left the market while sellers are also reluctant to sell at low prices.
Yesterday, Monday, November 24, spot pepper prices remained stable due to limited activities. The leading exporters, which have been actively buying pepper at Rs 690, 695 and Rs 700/kg before, said they will remain active and ready to buy at Rs 690/kg.
However, sellers are not willing to sell part of their product at the moment. So the market is in a stagnation and hence the spot market is temporarily stable, market sources have said. Business Line know.
On the IPSTA Spices Association, all active contracts have shown a firmer trend, although no transactions have taken place. The December, January and February contracts were at Rs 65,500 per quintal, Rs 60,700 per quintal and Rs 60,900 per quintal (equivalent to 10,599 USD/ton, 9,822 USD/ton and 9,855 USD/ton).
On the spot, 20 tons of pepper was brought in and was traded at Rs 690-700/kg.
Spot prices remained unchanged, at Rs 68,800 per quintal ($11,133 per ton) for bucket pepper and Rs 71,800 per quintal ($11,618 per ton) for preprocessed. But reduced to 1,400 Rupi / quintal compared to 1 week ago.
Exporters reported Malabar black pepper for December delivery at $11,300-400/ton and March delivery at $9,500/mt in international markets.
*Preliminary data reported by the General Department of Vietnam Customs shows that exports in the first half of November 2014 reached 2,868 tons of pepper of all kinds, with a turnover of $ 26.91 million, up 0.89% in terms of pepper. volume and increased sharply by 36.65% in value over the same period last year. The average export price of pepper in the period reached 9,383 USD/ton, slightly down 0.05 % compared to the average export price of the previous month.
*(Exchange rate 1 USD = 61,7982 Rupees)
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