Kochi: Pepper futures saw a sharp decline due to pessimistic activities and as a result, all the contracts fell by Rs 853-903 a quintal on NCDEX, while on NMCE, it was from Rs 863 to Rs 1,073 a quintal. Thus, the September, October and November contracts remained below the spot prices of MG 1 at Rs 13,400 a quintal. The sharp decline at a time when the Indian rupee is weakening against the dollar and the fundamentals are remaining unchanged is affecting the farmers and dealers. Indian parity maintained around $3,000 a tonne (c&f). The spot rates fell by Rs 500 a quintal in tandem with the futures market trend and closed at Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) a quintal. Vietnam has anticipated its production for 2008 as about 90,000-95,000 tonnes.
The global market continued to remain quiet and prices eased with the exception of Lampung. At Daklak, pepper rates for raw material slid down to VND 37,000 a kg from VND 40,000 last week. In Sarawak, local prices stood at MYR 7,960 a tonne through out the week or down by two per cent both local and f.o.b. In Sri Lanka, average rates at producing areas also declined by two per cent
The global market continued to remain quiet and prices eased with the exception of Lampung. At Daklak, pepper rates for raw material slid down to VND 37,000 a kg from VND 40,000 last week. In Sarawak, local prices stood at MYR 7,960 a tonne through out the week or down by two per cent both local and f.o.b. In Sri Lanka, average rates at producing areas also declined by two per cent
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