Kochi: Improvement in arrivals of the new crop coupled with slow demand pushed down the pepper prices in the futures and spot markets last week.
All the contracts on NCDEX dropped by Rs 184-245 a quintal while on NMCE, the fall was from Rs 127 to Rs 392 a quintal.
Spot prices fell by Rs 200 a quintal during the week to close on Saturday at Rs 13,600 (un-garbled) and Rs 14,200 (MG 1).
The turner over on NCDEX fell by 1,368 tonnes to 53,348 tonnes while on NMCE, it moved up by 1,311 tonnes to 6,571 tonnes.
Total open interest on NCDEX moved up marginally by 83 tonnes to 23,216 tonnes. On NMCE, it went up by 76-1,831 tonnes.
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The arrivals continued to remain less than half of the normal volume that used to come during the season. The major growers, who had liquidated their stocks when the prices were ruling high, are replenishing it. On the other hand, the current crop also is said to be between 40,000 and 45,000 tonnes.
The domestic demand during the week declined due to the severe cold conditions in North India.
In the international market, Vietnam is closed for the Lunar New Year holidays. Indonesia is said to have not much stocks.
Only cheapest source is Brazil. At the same time, there has been a reported increase in the annual consumption also.
Vietnam exports to go up
Vietnam is expected to export 90,000-100,000 tonnes of pepper (both white and black) this year, an increase of 10 per cent over last year, according to the Vietnam Pepper Association (VPA).
The export price is expected to either remain the same or to increase over last year, it said. However, the VPA appears worried over likely stockpiling as has happened last year which led to a squeeze in supply. A similar situation is likely this year also.
Surging global demand coupled with projected decline in other producing countries, the prices are expected to remain at the current levels or even more, it predicted.
At present, pepper prices are high in the world market with India’s pepper offered at $3,900-3,950 a tonne (c&f); Vietnam’s at $3,320-3,500 a tonne (f.o.b.) and Brazil’s at $3,300 a tonne (f.o.b.), it added.
All the contracts on NCDEX dropped by Rs 184-245 a quintal while on NMCE, the fall was from Rs 127 to Rs 392 a quintal.
Spot prices fell by Rs 200 a quintal during the week to close on Saturday at Rs 13,600 (un-garbled) and Rs 14,200 (MG 1).
The turner over on NCDEX fell by 1,368 tonnes to 53,348 tonnes while on NMCE, it moved up by 1,311 tonnes to 6,571 tonnes.
Total open interest on NCDEX moved up marginally by 83 tonnes to 23,216 tonnes. On NMCE, it went up by 76-1,831 tonnes.
• Quarterly results of corporates: Check out
The arrivals continued to remain less than half of the normal volume that used to come during the season. The major growers, who had liquidated their stocks when the prices were ruling high, are replenishing it. On the other hand, the current crop also is said to be between 40,000 and 45,000 tonnes.
The domestic demand during the week declined due to the severe cold conditions in North India.
In the international market, Vietnam is closed for the Lunar New Year holidays. Indonesia is said to have not much stocks.
Only cheapest source is Brazil. At the same time, there has been a reported increase in the annual consumption also.
Vietnam exports to go up
Vietnam is expected to export 90,000-100,000 tonnes of pepper (both white and black) this year, an increase of 10 per cent over last year, according to the Vietnam Pepper Association (VPA).
The export price is expected to either remain the same or to increase over last year, it said. However, the VPA appears worried over likely stockpiling as has happened last year which led to a squeeze in supply. A similar situation is likely this year also.
Surging global demand coupled with projected decline in other producing countries, the prices are expected to remain at the current levels or even more, it predicted.
At present, pepper prices are high in the world market with India’s pepper offered at $3,900-3,950 a tonne (c&f); Vietnam’s at $3,320-3,500 a tonne (f.o.b.) and Brazil’s at $3,300 a tonne (f.o.b.), it added.
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