Kochi: Pepper futures market has witnessed a fall during the week on bearish sentiments despite all the other origins remaining steady to firm.
Indian parity continued to remain competitive at $3,900-3,950 a tonne.
Availability of Asta grade pepper is reportedly tight and that in turn might compel the overseas buyers to start covering and in that case MG 1 at the current rate is at an advantageous position.
All the contracts on NCDEX except September dropped during the week by Rs 35-218 a quintal while September moved up by Rs 22 a quintal. On NMCE, the drop was from Rs 109 to Rs 175 a quintal.
Total turn over on NCDEX fell by 18,396 tonnes to 36,632 tonnes while that on NMCE, it declined by 693 tonnes to 5,805 tonnes during the week.
Total open interest on NCDEX dropped by 121 tonnes to 18,413 tonnes while that on NMCE declined by 79 tonnes to 2,155 tonnes.
Spot prices in tandem with the declining trend fell by Rs 100 a quintal during the week to close at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1).
IPC REPORT
The black pepper market, according to the International Pepper Community (IPC) report for the week, remained quiet during the week with an indication of uptrend at the week end.
Activities at origins continued to be calm due to lack of overseas demand.
The economic recession in the US and the wait and watch policy adopted by buyers seems to be the factor influencing the demand.
Vietnam, the largest pepper supplier is now in the peak of its harvesting season.
The market showed an uptrend at the week’s close after continued decline during recent month due to lack of demand.
At HCMC, local price increased marginally to VND 55.000 a kg from VND 54,500. F.O.B. prices also moved up from $3,500 and $ 3,700 to $3,550 and $3,750 a tonne for black 500g/l and 550g/l grades respectively.
In India, the market also slowed down as indicated by limited activity at the Commodity Exchange.
It is reported that the pepper futures market continued to witness volatility due to un-seasonal rains over the last few days combined with thin arrivals at the terminal market.
Futures prices were fluctuated at lower level at the beginning of the week and slightly moved up on Wednesday and then declined at the weekend.
WHITE PEPPER
The market for white pepper was also quiet. Local prices in Bangka and Sarawak were unchanged, but f.o.b. price of Sarawak white eased by two per cent. In Vietnam, f.o.b. prices stand at $5,580 a tonne.
Indian parity continued to remain competitive at $3,900-3,950 a tonne.
Availability of Asta grade pepper is reportedly tight and that in turn might compel the overseas buyers to start covering and in that case MG 1 at the current rate is at an advantageous position.
All the contracts on NCDEX except September dropped during the week by Rs 35-218 a quintal while September moved up by Rs 22 a quintal. On NMCE, the drop was from Rs 109 to Rs 175 a quintal.
Total turn over on NCDEX fell by 18,396 tonnes to 36,632 tonnes while that on NMCE, it declined by 693 tonnes to 5,805 tonnes during the week.
Total open interest on NCDEX dropped by 121 tonnes to 18,413 tonnes while that on NMCE declined by 79 tonnes to 2,155 tonnes.
Spot prices in tandem with the declining trend fell by Rs 100 a quintal during the week to close at Rs 14,000 (un-garbled) and Rs 14,600 (MG 1).
IPC REPORT
The black pepper market, according to the International Pepper Community (IPC) report for the week, remained quiet during the week with an indication of uptrend at the week end.
Activities at origins continued to be calm due to lack of overseas demand.
The economic recession in the US and the wait and watch policy adopted by buyers seems to be the factor influencing the demand.
Vietnam, the largest pepper supplier is now in the peak of its harvesting season.
The market showed an uptrend at the week’s close after continued decline during recent month due to lack of demand.
At HCMC, local price increased marginally to VND 55.000 a kg from VND 54,500. F.O.B. prices also moved up from $3,500 and $ 3,700 to $3,550 and $3,750 a tonne for black 500g/l and 550g/l grades respectively.
In India, the market also slowed down as indicated by limited activity at the Commodity Exchange.
It is reported that the pepper futures market continued to witness volatility due to un-seasonal rains over the last few days combined with thin arrivals at the terminal market.
Futures prices were fluctuated at lower level at the beginning of the week and slightly moved up on Wednesday and then declined at the weekend.
WHITE PEPPER
The market for white pepper was also quiet. Local prices in Bangka and Sarawak were unchanged, but f.o.b. price of Sarawak white eased by two per cent. In Vietnam, f.o.b. prices stand at $5,580 a tonne.
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