Kochi: The pepper futures market continued to witness a decline during the week though the sentiment has been bullish, of late, due to un-seasonal rains over the last 10 days combined with thin arrivals at the terminal market.
All the contracts on the exchanges fell. On NCDEX, the drop was from Rs 550-644 a quintal while on the NMCE it was from Rs 567 to Rs 650 a quintal.
Total turn over on NCDEX increased by 11,340 tonnes to 55,028 tonnes, while on NMCE it moved up by 872 tonnes to 6,458 tonnes.
Total open interest on NCDEX dropped by 1,124 tonnes to 18,534 tonnes during the week, while on NMCE it moved up by 445 tonnes to 2,254 tonnes.
Spot prices also fell by Rs 200 a quintal to close at Rs 14,100 (un-garbled) and Rs 14,700 (MG 1) a quintal during the week.
The quantity of stocks held on the exchanges are said to be low and estimated at 5,500 tonnes. It is expected that about 60 per cent of the crop has been harvested with the majority in the hands of farmers. The bullishness has been shortened by exporters/traders cleaning up their books for the financial year end. MG 1 prices remained at $3,950-4,000 a tonne (c&f) for Apr/May positions.
Vietnam Asta, despite 80-85 per cent of the harvesting is over, remained uncompetitive. However, the prices of 500 and 550 GL eased to $3,600-3,650 and $3,800-3,850 a tonne (f.o.b.) respectively.
In Indonesia, the prices remained at better levels due to domestic activities. Brazil is said to reacting slowly to the easier market and remained uncompetitive at $4,100-4,200 a tonne (c&f). Brazil was offering B Asta at $3,850-3,900 a tonne (f.o.b.) Belem while B1 560 GL at $3,700-3,800 a tonne (f.o.b.) Belem both for Apr/Jun shipments.
Buyers continued to remain on a wait-and-watch mode while the sellers feel that the buying activity would commence shortly for all positions and in all consuming markets.
IPC REPORT
According to International Pepper Community (IPC), black pepper market in general was quiet with limited activity during the week.
In Vietnam, the market was also quiet and prices declined further. Pepper crop is on the peak season. Trade source reported that FOB prices of Vietnamese pepper eased from $3,520 a tonne for black 500g/l to $3,450, while for black pepper 550 g/l declined from $3,720 to $3,600. The strengthening local currency against dollar has also influenced the situation.
In Lampung, local prices were slightly down, with limited activity as stocks at farms has been absorbed by traders. Lampung was reportedly offering at $3,850 a tonne (f.o.b.) declined from $4,000 offered earlier, but they were not keen to sell at lower levels.
In Sarawak local prices were also down by 3 per cent, while f.o.b. prices were reported stable. Brazil was quoted BASTA at $3,850 a tonne (f.o.b.).
In Sri Lanka, average prices of black pepper at pepper growing areas moved up by two per cent from last week’s price.
WHITE PEPPER
The market for white pepper showed a downward trend at sources. In Pangkal Pinang, local prices of Muntok white pepper fell marginally by one per cent after witnessed a significant movements during last week. In Sarawak, prices also eased by one per cent, while f.o.b. prices of Sarawak white were reported stable.
All the contracts on the exchanges fell. On NCDEX, the drop was from Rs 550-644 a quintal while on the NMCE it was from Rs 567 to Rs 650 a quintal.
Total turn over on NCDEX increased by 11,340 tonnes to 55,028 tonnes, while on NMCE it moved up by 872 tonnes to 6,458 tonnes.
Total open interest on NCDEX dropped by 1,124 tonnes to 18,534 tonnes during the week, while on NMCE it moved up by 445 tonnes to 2,254 tonnes.
Spot prices also fell by Rs 200 a quintal to close at Rs 14,100 (un-garbled) and Rs 14,700 (MG 1) a quintal during the week.
The quantity of stocks held on the exchanges are said to be low and estimated at 5,500 tonnes. It is expected that about 60 per cent of the crop has been harvested with the majority in the hands of farmers. The bullishness has been shortened by exporters/traders cleaning up their books for the financial year end. MG 1 prices remained at $3,950-4,000 a tonne (c&f) for Apr/May positions.
Vietnam Asta, despite 80-85 per cent of the harvesting is over, remained uncompetitive. However, the prices of 500 and 550 GL eased to $3,600-3,650 and $3,800-3,850 a tonne (f.o.b.) respectively.
In Indonesia, the prices remained at better levels due to domestic activities. Brazil is said to reacting slowly to the easier market and remained uncompetitive at $4,100-4,200 a tonne (c&f). Brazil was offering B Asta at $3,850-3,900 a tonne (f.o.b.) Belem while B1 560 GL at $3,700-3,800 a tonne (f.o.b.) Belem both for Apr/Jun shipments.
Buyers continued to remain on a wait-and-watch mode while the sellers feel that the buying activity would commence shortly for all positions and in all consuming markets.
IPC REPORT
According to International Pepper Community (IPC), black pepper market in general was quiet with limited activity during the week.
In Vietnam, the market was also quiet and prices declined further. Pepper crop is on the peak season. Trade source reported that FOB prices of Vietnamese pepper eased from $3,520 a tonne for black 500g/l to $3,450, while for black pepper 550 g/l declined from $3,720 to $3,600. The strengthening local currency against dollar has also influenced the situation.
In Lampung, local prices were slightly down, with limited activity as stocks at farms has been absorbed by traders. Lampung was reportedly offering at $3,850 a tonne (f.o.b.) declined from $4,000 offered earlier, but they were not keen to sell at lower levels.
In Sarawak local prices were also down by 3 per cent, while f.o.b. prices were reported stable. Brazil was quoted BASTA at $3,850 a tonne (f.o.b.).
In Sri Lanka, average prices of black pepper at pepper growing areas moved up by two per cent from last week’s price.
WHITE PEPPER
The market for white pepper showed a downward trend at sources. In Pangkal Pinang, local prices of Muntok white pepper fell marginally by one per cent after witnessed a significant movements during last week. In Sarawak, prices also eased by one per cent, while f.o.b. prices of Sarawak white were reported stable.
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