The pepper market last week witnessed an uptrend in purchasing power that supported well in the context of limited supply.
In the past week, arrivals continued to decrease because farmers were hesitant to sell at a lower price. Besides, the rains in the growing areas are also affecting the supply.
Domestic demand has increased as traders are interested in stocking goods before the onset of the rainy season. Next is the demand for pepper has a high weight. Sellers don’t want to sell at a lower price. Growers in the High Mountains reported that there were buyers at the futures market in cash and paying on the spot.
Top exporters were interested to buy at Rs 332 – 333/kg with pepper from Karnataka while sellers in Battery and Pulpally in Wayanad district are selling for Rs 342 – 343/kg. But buyers are quoting 337 – 338 Rupees/kg.
Pepper in the High Mountains sold for Rs 345 while pepper in Rajakumari costs Rs 348. Buyers are quoting Rs 346.
Due to summer rains in the growing area pepper the main cause pepper Delivered up to now has a humidity as high as 13-13.5% compared to the allowable 12%, many traders said, “This phenomenon makes pepper price scratched”.
During the week, contracts for June, July and August on IPSTA increased by Rs 175, Rs 224 and Rs 365, respectively, to Rs 35,400 per quintal, Rs 35,499 per quintal and Rs 35,690 per quintal (equivalent to Rs 6,268 per quintal). tons, $6,286/ton and $6,319/ton). (1 USD = 56.4771 Rupees)
Net open interest was at 29 tons, up 6 tons. Sales fell 63 tons to 459 tons.
Pepper price spot pepper increased by Rs 100 to Rs 33,700/quintal (US$5,967/ton) for bucket pepper and Rs 35,200/quintal (US$6,233/ton) for selected pepper.
Pepper Indian speciality in the international market is priced at $6,500/ton for June delivery and $6,600/ton (c&f) for July delivery.
The overseas market is reported to be in a sluggish state without a clear direction
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