Kochi: Bear operators downed the pepper futures market on Sept 5. September contract on NCDEX declined by Rs 356 a quintal to Rs 13,585, which is Rs 415 below the spot price for MG 1 of Rs 14,000 a quintal. Even October contract declined below the spot price by Rs 336 a quintal to Rs 13,880. November contact fell by Rs 314 to Rs 14,130. On NMCE, September contract fell by Rs 421 a quintal to Rs 13,617. The decline in other contracts was from Rs 308 to Rs 365 a quintal. Total turnover on NCDEX fell by 4,876 tonnes to 7,965 tonnes, while total open interest increased by 248 tonnes to 20,319 tonnes
Showing posts with label Pepper. Show all posts
Showing posts with label Pepper. Show all posts
Saturday, September 6, 2008
Wednesday, August 20, 2008
Pepper Futures Mkt Decline - Aug 20 , 2008
Kochi: Pepper futures market fell on Aug 19 on pessimistic activities. August contract fell by Rs 156 to Rs 14,010, below the spot rates for MG 1. The fall in other contracts was from Rs123 to Rs201 a quintal. In fact, exchange pepper was available cheaper. The NCDEX is said to be holding a stock of around 5,700 tonnes now. Total turnover on NCDEX fell by 1,655 tonnes to 6,598 tonnes. Total open interest also declined by 192 tonnes to 20,486 tonnes. The open interest for August declined by 1,685 tonnes, while that of September declined by 16 tonnes. October increased by 121 tonnes. Spot prices in tandem with the futures market trend fell by Rs 100 a quintal to close at Rs 13,700 (un-garbled) and Rs 14,300 a tonne (MG 1) on Aug 19. Indian parity for US was at $3,625 a tonne (c&f) while for Europe it was $3,550 a tonne (c&f). V Asta was quoted at $3,450 a tonne (f.o.b) while 550 GL at $3,050 a tonne (f.o.b).
Monday, August 18, 2008
Pepper Demand Increase From Next Month In The World Market - Aug 18 , 2008
Kochi: Demand for pepper in the world market is hoped to increase from next month once the purchasers come back from the summer holidays. The grinding industry will also begin purchasing for the winter demand and the festival season is already around the corner.
The futures market on Aug 16 saw a downward trend on pessimistic activities and the consequent selling pressure in tandem with the trend in other commodities apart from reports from Brazil that there were 48 detentions of Indian pepper consignments by the US FDA during the past 12 months
India has been sending out wrong signals because of the high volatility in the market due to highly speculative activities by the bulls and bear operators. International market is firm and all the other origins are providing below the Indian parity. Indonesia, because of the projected small crop appears to have decreased it's selling of light berries.
The futures market on Aug 16 saw a downward trend on pessimistic activities and the consequent selling pressure in tandem with the trend in other commodities apart from reports from Brazil that there were 48 detentions of Indian pepper consignments by the US FDA during the past 12 months
India has been sending out wrong signals because of the high volatility in the market due to highly speculative activities by the bulls and bear operators. International market is firm and all the other origins are providing below the Indian parity. Indonesia, because of the projected small crop appears to have decreased it's selling of light berries.
Thursday, August 14, 2008
Pepper Futures To Touch Rs 14,000 - Aug 14 , 2008
Kochi: The pepper futures market on Aug 13 increased on optimistic activities. August contract increased by Rs 78 a quintal to close at Rs 14,000, still Rs 300 below the spot price for MG 1. The increase in other contracts was from Rs 75 to Rs 122 a quintal. Total turnover on NCDEX declined by 1,505 tonnes to close at 6,173 tonnes while the total open interest fell by 292 tonnes to 20,211 tonnes. Purchasers from the domestic market were waiting for the investors to sell their validity expired goods as it was available Rs 300 below the spot prices. Spot prices were firm at the previous level of Rs 13,700 a quintal for un-garbled and Rs 14,300 a quintal for MG 1 on Aug 13.
Wednesday, August 13, 2008
Pepper Futures Increase - Aug 13 , 2008
Kochi: Pepper futures market on Aug 12 increased on speculative activities by the bulls. August contract increased by Rs 89 a quintal while the increase in other contracts was from Rs 43 to Rs 102 a quintal from the closing price of Aug 11. However, January fell by Rs 51 a quintal.Total turn over increased by 1,912 tonnes on NCDEX to close at 7,678 tonnes while the net open position declined by 67 tonnes to close at 20,503 tonnes. August and September positions fell by 405 tonnes and 85 tonnes respectively while October moved up by 112 tonnes. Spot prices ruled frim at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) a quintal on Aug 12. There was no selling pressure for the spot pepper.
In the global market, easier trend continued in Brazil and Vietnam. The purchasers in Europe and US are on holidays while because of the slow economic activity dealers were keeping inventory only for two weeks and not for 6-7 weeks like in the past. The prices on Aug 12 for different origins C&F New York were MG1 L ASTA - $3,700-3,750 a tonne;V ASTA - $3,525-3,575 a tonne; B ASTA - $3,025-3,050 a tonne FOB; Vietnam White was quoted at $4,850-4,900 a tonne while Muntok Whiteat $4,950-5,000 a tonne (c&f).
In the global market, easier trend continued in Brazil and Vietnam. The purchasers in Europe and US are on holidays while because of the slow economic activity dealers were keeping inventory only for two weeks and not for 6-7 weeks like in the past. The prices on Aug 12 for different origins C&F New York were MG1 L ASTA - $3,700-3,750 a tonne;V ASTA - $3,525-3,575 a tonne; B ASTA - $3,025-3,050 a tonne FOB; Vietnam White was quoted at $4,850-4,900 a tonne while Muntok Whiteat $4,950-5,000 a tonne (c&f).
Tuesday, August 5, 2008
Pepper Futures Market Fall On All Contracts On Bearish Activities - Aug 05 , २008
Kochi: Pepper futures market on Aug 4 saw a fall on all contracts on bearish activities. August contract was fell by Rs 125 a quintal to close at Rs 14,065. The decline in other contracts was from Rs 100 to Rs 137 a quintal. Total turnover fell by 2,204 tonnes to 5,346 tonnes. August fell by 246 tonnes while September and October increased by 41 tonnes and 314 tonnes respectively. North Indian dealers are said to be moving around in the growing areas and primary markets, ready to purchase at terminal market price and even at higher levels. MG 1 spot price is above the August price and hence some operators were ready to sell from selective warehouses at Re 1 above the August price. The current market trend does not appear to be in the interest of the futures market and needs some correction. Spot rates in tandem with the futures market trend were down by Rs 100 a quintal to close at Rs 13,700 (un-garbled) and Rs 14,300 (MG 1) on Aug 4.
Friday, July 25, 2008
Pepper Futures Mkt Sees Up Trend - July 25, 2008
Kochi: The pepper futures market on July 24 was volatile and all the contracts ended slightly up. Reports that Vietnam rates are easier created pessimistic sentiments and arrested the upward move. Indian parity ruled at $3,600-3,650 a tonne (c&f) and continued uncompetitive in the world market, even after the rupee weakened against the dollar on July 24.
Indonesia was quoting at $3,500 a tonne (f.o.b.) and its prices are reported to be easier in the coming weeks. Brazil was quoting Astaat $3,100 a tonne (f.o.b.) Belem while 550 GL at $3,000 a tonne (f.o.b.). Vietnam reported to have quoted 550 GL at $2,950-3,000 a tonne (f.o.b.). The turnover on the NCDEX dropped by 2,422 tonne to 12,331 tonne on July 24 while the Net Open Interest declined by 373 tonne to 20,687 tonne. August net open position fell by 490 tonne to 9,261 tonne while others increased slightly.
Spot prices ruled firm at July 23 levels of Rs 13,800 a quintal (un-garbled) and Rs 14,400 a tonne (MG 1) on July 24.
Indonesia was quoting at $3,500 a tonne (f.o.b.) and its prices are reported to be easier in the coming weeks. Brazil was quoting Astaat $3,100 a tonne (f.o.b.) Belem while 550 GL at $3,000 a tonne (f.o.b.). Vietnam reported to have quoted 550 GL at $2,950-3,000 a tonne (f.o.b.). The turnover on the NCDEX dropped by 2,422 tonne to 12,331 tonne on July 24 while the Net Open Interest declined by 373 tonne to 20,687 tonne. August net open position fell by 490 tonne to 9,261 tonne while others increased slightly.
Spot prices ruled firm at July 23 levels of Rs 13,800 a quintal (un-garbled) and Rs 14,400 a tonne (MG 1) on July 24.
Friday, April 11, 2008
Periyar Pepper To Be Exported To Germany
Thiruvananthapuram: In a move aimed at empowering the tribals in the Periyar Tiger Reserve, four tonnes of pepper produced there through organic farming will be exported to Germany soon.
A deal to the effect has been signed between the Eco Development Committee of Periyar, under the State Forest Department, and Ecoland Herbs and Spices of Germany. The export will fetch 33 per cent more price for the pepper, according to Forest Department officials.
The pepper to be exported was produced in the tribal settlements of Mannakudi, Puliakudy and Mannan and in the tribal hamlet of Vanchivayal under the Vallakkadavu Forest Range.
Periyar Foundation, the apex body of eco development committees in the tiger reserve, has received the quality certification for export of farm products from an organic certifying agency in Germany and the import-export code from the Joint Director of Exports in Kochi. This is for the first time in the country that a farm produce from tribal settlements is being directly exported to overseas markets.
The officials said that the Forest Department, in association with Periyar Foundation, would market ginger and turmeric, apart from pepper, produced in the region by keeping the middlemen away.
A deal to the effect has been signed between the Eco Development Committee of Periyar, under the State Forest Department, and Ecoland Herbs and Spices of Germany. The export will fetch 33 per cent more price for the pepper, according to Forest Department officials.
The pepper to be exported was produced in the tribal settlements of Mannakudi, Puliakudy and Mannan and in the tribal hamlet of Vanchivayal under the Vallakkadavu Forest Range.
Periyar Foundation, the apex body of eco development committees in the tiger reserve, has received the quality certification for export of farm products from an organic certifying agency in Germany and the import-export code from the Joint Director of Exports in Kochi. This is for the first time in the country that a farm produce from tribal settlements is being directly exported to overseas markets.
The officials said that the Forest Department, in association with Periyar Foundation, would market ginger and turmeric, apart from pepper, produced in the region by keeping the middlemen away.
Thursday, March 27, 2008
Pepper Futures Fall On Bearish Activities
Kochi: Pepper futures market which has witnessed high volatility during the day declined at close on Wednesday on bearish activities based on reports of drop in Vietnam prices.
Bear speculators were said to be trying to bring down April prices by saying that exporters might not hedge for fear of default. Thus, they are depressing the market, trading sources told Business Line.
Some spot selling was there. Besides, some selling pressure was reported from the Malabar region which had also influenced the market. The stock held by NCDEX is 5,753 tonnes. In addition, there is 99 tonnes in process in selected warehouses, they said.
In the international market Vietnam was said to be easier and it was offering 500 GL at $3,520 a tonne (f.o.b.) and 550 GL at $3,720 a tonne (f.o.b.). Indonesia was reportedly offering Lasta at $4,000 at tonne (f.o.b.) while Brazil was quoted Basta at $3,850 a tonne (f.o.b.).
Indian parity was at $3,925-3,950 a tonne (c&f) and still remained competitive, they said.
Contract position
April contract on NCDEX declined on Wednesday by Rs 51 a quintal close at Rs 14,875. The fall in other contracts was from Rs 66 to Rs 278 a quintal. On NMCE April contract dropped by Rs 37 a quintal to close at Rs 14,785 from Rs 14,822. The drop in other contracts except August was from Rs 40 to Rs 60 a quintal while August moved up by Rs 240 a quintal.
Total turn over on NCDEX dropped by 2,589 tonnes to 8,758 tonnes while that on NMCE moved up by 203 tonnes to 1,196 tonnes.
Total open interest on NCDEX moved up by 191 tonnes to 18,638 tonnes. April position dropped by 52 per cent while May and June moved up by 40 per cent and 5 per cent respectively. On NMCE total open interest moved up by 100 tonnes to 1,974 tonnes.
Spot prices ruled steady at previous levels at Rs 14,200 (un-garbled) and Rs 14,800 (MG 1) a quintal on Wednesday.
Bear speculators were said to be trying to bring down April prices by saying that exporters might not hedge for fear of default. Thus, they are depressing the market, trading sources told Business Line.
Some spot selling was there. Besides, some selling pressure was reported from the Malabar region which had also influenced the market. The stock held by NCDEX is 5,753 tonnes. In addition, there is 99 tonnes in process in selected warehouses, they said.
In the international market Vietnam was said to be easier and it was offering 500 GL at $3,520 a tonne (f.o.b.) and 550 GL at $3,720 a tonne (f.o.b.). Indonesia was reportedly offering Lasta at $4,000 at tonne (f.o.b.) while Brazil was quoted Basta at $3,850 a tonne (f.o.b.).
Indian parity was at $3,925-3,950 a tonne (c&f) and still remained competitive, they said.
Contract position
April contract on NCDEX declined on Wednesday by Rs 51 a quintal close at Rs 14,875. The fall in other contracts was from Rs 66 to Rs 278 a quintal. On NMCE April contract dropped by Rs 37 a quintal to close at Rs 14,785 from Rs 14,822. The drop in other contracts except August was from Rs 40 to Rs 60 a quintal while August moved up by Rs 240 a quintal.
Total turn over on NCDEX dropped by 2,589 tonnes to 8,758 tonnes while that on NMCE moved up by 203 tonnes to 1,196 tonnes.
Total open interest on NCDEX moved up by 191 tonnes to 18,638 tonnes. April position dropped by 52 per cent while May and June moved up by 40 per cent and 5 per cent respectively. On NMCE total open interest moved up by 100 tonnes to 1,974 tonnes.
Spot prices ruled steady at previous levels at Rs 14,200 (un-garbled) and Rs 14,800 (MG 1) a quintal on Wednesday.
Friday, March 21, 2008
Pepper Harvest Hit By Extended Showers
Kochi: The extended summer showers this year over Kerala and some parts of Tamil Nadu and Karnataka during the past five days are negatively affecting the pepper harvesting.
The pepper harvested during the past four to five days will loose its bulk density because of the heavy rains besides the pepper catching mould, growers told Business Line on Thursday.
Harvesting in Wayanad and Idukki districts of Kerala is in the last lap, and it is also disrupted by the rains. The main areas where harvesting is on in Idukki are Kumily, where harvesting has started now because of late crop, Rajakkad and Rajakumari where over 50 per cent of harvest is over. At the same time, harvesting in the entire Wayanad district is under way, they said.
The Madukeri region of Karnataka is also reportedly receiving extended summer showers, and as a result, harvesting there also is being affected.
Wrong signal
On the other hand, continuous rains would send wrong signals to vines that the monsoon has already set in and it will result in the new flushes turning into vegetation. It might have negative impact on the next crop also, they claimed.
Whereas, in the southern districts of Kerala and in Tamil Nadu’s Kannyakumari district harvesting is over, and there the rains would result in new flushings and, consequently, new spikes coming out. Therefore, the next crop in this region might come out better, provided the summer in April and May does not turn out to be severe, as such an eventuality might result in fall of the new spikes.
In the Pattipuram-patti area of Tamil Nadu, where also harvesting is on, the rains are said to have been affected it. However, farmers there are selling green pepper.
The pepper harvested during the past four to five days will loose its bulk density because of the heavy rains besides the pepper catching mould, growers told Business Line on Thursday.
Harvesting in Wayanad and Idukki districts of Kerala is in the last lap, and it is also disrupted by the rains. The main areas where harvesting is on in Idukki are Kumily, where harvesting has started now because of late crop, Rajakkad and Rajakumari where over 50 per cent of harvest is over. At the same time, harvesting in the entire Wayanad district is under way, they said.
The Madukeri region of Karnataka is also reportedly receiving extended summer showers, and as a result, harvesting there also is being affected.
Wrong signal
On the other hand, continuous rains would send wrong signals to vines that the monsoon has already set in and it will result in the new flushes turning into vegetation. It might have negative impact on the next crop also, they claimed.
Whereas, in the southern districts of Kerala and in Tamil Nadu’s Kannyakumari district harvesting is over, and there the rains would result in new flushings and, consequently, new spikes coming out. Therefore, the next crop in this region might come out better, provided the summer in April and May does not turn out to be severe, as such an eventuality might result in fall of the new spikes.
In the Pattipuram-patti area of Tamil Nadu, where also harvesting is on, the rains are said to have been affected it. However, farmers there are selling green pepper.
Saturday, March 1, 2008
Cardamom, Pepper To Benefit
Kochi: Special attention given to pepper and cardamom may have positive impact on these plantation crops. Replanting of the existing low yielding plantations with high yielding varieties could lead to increased productivity per hectare. However, its success will depend on how the replanting and new planting schemes are drawn up and implemented. Budget 2008-09
The average pepper yield per hectare in India is estimated at less than 400 kg as against over 2,000 kg in Vietnam. Similarly, the average productivity per hectare of cardamom is also at the lowest levels at below 300 kg. The low yield has resulted in high cost of production making these commodities uncompetitive in the world market.
Given this scenario, the announcement made in the Budget 2007-08 is a positive step in the right direction, provided effective mechanism is put in place for the implementation of schemes aimed at increasing the productivity.
The waiver of loans for small and marginal farmers would benefit a good number of cardamom and pepper growers spread over Kerala, Karnataka and Tamil Nadu. A substantial number of cardamom growers fall under medium and major category who could be benefited by going for a one-time settlement with the banks.
The allocation of Rs 1,000 crore for horticulture crops, including coconut and cashew is also a positive step. The allocation for each crop and schemes for which it has been earmarked is yet to be known.
The average pepper yield per hectare in India is estimated at less than 400 kg as against over 2,000 kg in Vietnam. Similarly, the average productivity per hectare of cardamom is also at the lowest levels at below 300 kg. The low yield has resulted in high cost of production making these commodities uncompetitive in the world market.
Given this scenario, the announcement made in the Budget 2007-08 is a positive step in the right direction, provided effective mechanism is put in place for the implementation of schemes aimed at increasing the productivity.
The waiver of loans for small and marginal farmers would benefit a good number of cardamom and pepper growers spread over Kerala, Karnataka and Tamil Nadu. A substantial number of cardamom growers fall under medium and major category who could be benefited by going for a one-time settlement with the banks.
The allocation of Rs 1,000 crore for horticulture crops, including coconut and cashew is also a positive step. The allocation for each crop and schemes for which it has been earmarked is yet to be known.
Wednesday, February 27, 2008
Vietnam Factor Drives Up Pepper
Kochi: Pepper futures market witnessed high volatility and speculators were pushing up the prices on reports of continuous rise in Vietnam pepper prices. Run-up to Budget 2008-09
Investors were active in selling futures and buying spot pepper exchange delivered. Domestic demand was weak.
Arrivals continued to be almost half of what used to come during these days normally in previous. Besides, the pattern of arrival has also changed now with the goods coming directly to exporters or processors or direct suppliers, market sources told Business Line. On an average 100 tonnes of pepper arrive daily now as against 200 to 250 tonnes in the previous seasons.
Under the Vietnam influence Indonesia and Brazil are also said to have raised their pepper prices. Indonesian LAsta was being offered at $4,050 a tonne (f.o.b.) while Brazil B Asta at $3,650-3,750 a tonne (f.o.b.) and B1 at $3,700 a tonne (f.o.b.). Indian parity on Tuesday was at $4,150 a tonne (c&f).
Meanwhile, according to overseas reports, market in Vietnam was reportedly dull due to hot local prices, recent hike in interest rates and weak dollar. Pepper prices there continued to rise on tight supply. Prices quoted on Tuesday are FAQ 500 GL $3,850 a tonne (f.o.b.), FAQ 550 GL $4,050 a tonne (f.o.b.) and V Asta $4,410 a tonne (fob).
As the prices are ruling high at 60,000 VND a Kg farmers are said to be selling only one kg/day to meet their daily requirements.
CONTRACT POSITION
March contract on NCDEX on Tuesday moved up by Rs 114 a quintal to Rs 15,400. The increase in all other contracts except August was from Rs 158 to Rs 191 a quintal. August declined by Rs 6 a quintal to close at Rs 16,780.
On NMCE, March contract went up by Rs 35 a quintal to Rs 15,025 from Rs 14,990. The increase in other contracts except June was from Rs 5 to Rs 107 a quintal. June declined by Rs 31 a quintal to close at Rs 16,010.
Total turnover on NCDEX dropped by 466 tonnes to 19,919 tonnes, while that on NMCE also fell by 325 tonnes to 1,934 tonnes.
Total open interest on NCDEX increased by 1,074 tonnes to 22,094 tonnes. March position fell by 34 per cent, while that of April and May went up by 55 per cent and 7 per cent respectively.
On NMCE, total open interest declined by 50 tonnes to 1,631 tonnes.
Spot prices in tandem with the futures market trend and buying support went up by Rs 200 a quintal on Tuesday to close at Rs 14,300 (un-garbled) and Rs 14,900 (MG 1).
Investors were active in selling futures and buying spot pepper exchange delivered. Domestic demand was weak.
Arrivals continued to be almost half of what used to come during these days normally in previous. Besides, the pattern of arrival has also changed now with the goods coming directly to exporters or processors or direct suppliers, market sources told Business Line. On an average 100 tonnes of pepper arrive daily now as against 200 to 250 tonnes in the previous seasons.
Under the Vietnam influence Indonesia and Brazil are also said to have raised their pepper prices. Indonesian LAsta was being offered at $4,050 a tonne (f.o.b.) while Brazil B Asta at $3,650-3,750 a tonne (f.o.b.) and B1 at $3,700 a tonne (f.o.b.). Indian parity on Tuesday was at $4,150 a tonne (c&f).
Meanwhile, according to overseas reports, market in Vietnam was reportedly dull due to hot local prices, recent hike in interest rates and weak dollar. Pepper prices there continued to rise on tight supply. Prices quoted on Tuesday are FAQ 500 GL $3,850 a tonne (f.o.b.), FAQ 550 GL $4,050 a tonne (f.o.b.) and V Asta $4,410 a tonne (fob).
As the prices are ruling high at 60,000 VND a Kg farmers are said to be selling only one kg/day to meet their daily requirements.
CONTRACT POSITION
March contract on NCDEX on Tuesday moved up by Rs 114 a quintal to Rs 15,400. The increase in all other contracts except August was from Rs 158 to Rs 191 a quintal. August declined by Rs 6 a quintal to close at Rs 16,780.
On NMCE, March contract went up by Rs 35 a quintal to Rs 15,025 from Rs 14,990. The increase in other contracts except June was from Rs 5 to Rs 107 a quintal. June declined by Rs 31 a quintal to close at Rs 16,010.
Total turnover on NCDEX dropped by 466 tonnes to 19,919 tonnes, while that on NMCE also fell by 325 tonnes to 1,934 tonnes.
Total open interest on NCDEX increased by 1,074 tonnes to 22,094 tonnes. March position fell by 34 per cent, while that of April and May went up by 55 per cent and 7 per cent respectively.
On NMCE, total open interest declined by 50 tonnes to 1,631 tonnes.
Spot prices in tandem with the futures market trend and buying support went up by Rs 200 a quintal on Tuesday to close at Rs 14,300 (un-garbled) and Rs 14,900 (MG 1).
Monday, February 25, 2008
Tight Supplies Keep Pepper Market Hot
Kochi: Tight supply position coupled with the upward trend in Vietnam and other origins have pushed up the pepper futures market last week. Run-up to Budget 2008-09
On NCDEX, all the contracts increased by Rs 965 to Rs 1,141 a quintal while on NMCE, it was from Rs 732 to Rs 1,000 a quintal.
Spot prices shot up by Rs 600 a quintal to close at Rs 13,900 (un-garbled) and Rs 14,500 (MG 1).
However, the turnover on NCDEX dropped by 13,235 tonnes to 69,133 tonnes while that on NMCE, it declined by 1,150 tonnes to 7,150 tonnes.
Total open interest on NCDEX moved up by 1,532 tonnes to 21,491 tonnes. During the week, 1,034 tonnes of February contract were delivered. Open interest for March witnessed a drop of 1,895 tonnes.
Overall supply position continued to remain tight. Availability of Asta grade pepper was thin in other origins. Heavy pepper arrivals in Vietnam even after 30 per cent of harvesting were negligible. Hence, Asta prices there were ruling above $4,000 a tonne (f.o.b.). Indian parity was around $3,900 a tonne (c&f) remained competitive. India is currently at an advantageous position.
In the International market, the buyers have been waiting for a selling pressure to build up in Vietnam. The low output in India and its huge domestic market capable of absorbing the entire quantity might place Vietnam at an advantageous position in the second quarter of the year. Meanwhile, unconfirmed overseas reports said that the Indonesian 2008 crop would be around 20 per cent smaller.
IPC REPORT
According to the International Pepper Community (IPC) report, black pepper market firmed up during the week. In Vietnam, the market showed some improvement. Pepper prices at HCMC increased steadily through out the week and moved up significantly during the last two days.
Price for local purchases was VND 52,000 a kg at the beginning of the week increased to VND55,500 a kg at the week’s close. F.O.B. prices were $3,450 a tonne for black 500 GL and $3,650 for 550 GL. On an average, pepper prices at HCMC increased by four per cent from the previous week. In India, prices firmed up slightly, but trading was slower as indicated by the decrease in volume of trade at the commodity exchange. In Sarawak, local prices increased by two per cent, but f.o.b. prices were stable at $3,850. In Europe, Sarawak black pepper price increased by three per cent.
WHITE PEPPER
The market continued to be quiet. In Bangka and Sarawak, local prices were relatively stable. But in dollar terms, prices increased marginally by one per cent due to weakening dollar rate against local currencies. In Europe, Muntok white pepper price increased by five per cent.
In Brazil, according to Brazilian Pepper Trade Board (BPTB), exporters stopped offering and were talking prices up to $3,700 f.o.b. for ASTA and $3,550 for B2 500 GL.
On NCDEX, all the contracts increased by Rs 965 to Rs 1,141 a quintal while on NMCE, it was from Rs 732 to Rs 1,000 a quintal.
Spot prices shot up by Rs 600 a quintal to close at Rs 13,900 (un-garbled) and Rs 14,500 (MG 1).
However, the turnover on NCDEX dropped by 13,235 tonnes to 69,133 tonnes while that on NMCE, it declined by 1,150 tonnes to 7,150 tonnes.
Total open interest on NCDEX moved up by 1,532 tonnes to 21,491 tonnes. During the week, 1,034 tonnes of February contract were delivered. Open interest for March witnessed a drop of 1,895 tonnes.
Overall supply position continued to remain tight. Availability of Asta grade pepper was thin in other origins. Heavy pepper arrivals in Vietnam even after 30 per cent of harvesting were negligible. Hence, Asta prices there were ruling above $4,000 a tonne (f.o.b.). Indian parity was around $3,900 a tonne (c&f) remained competitive. India is currently at an advantageous position.
In the International market, the buyers have been waiting for a selling pressure to build up in Vietnam. The low output in India and its huge domestic market capable of absorbing the entire quantity might place Vietnam at an advantageous position in the second quarter of the year. Meanwhile, unconfirmed overseas reports said that the Indonesian 2008 crop would be around 20 per cent smaller.
IPC REPORT
According to the International Pepper Community (IPC) report, black pepper market firmed up during the week. In Vietnam, the market showed some improvement. Pepper prices at HCMC increased steadily through out the week and moved up significantly during the last two days.
Price for local purchases was VND 52,000 a kg at the beginning of the week increased to VND55,500 a kg at the week’s close. F.O.B. prices were $3,450 a tonne for black 500 GL and $3,650 for 550 GL. On an average, pepper prices at HCMC increased by four per cent from the previous week. In India, prices firmed up slightly, but trading was slower as indicated by the decrease in volume of trade at the commodity exchange. In Sarawak, local prices increased by two per cent, but f.o.b. prices were stable at $3,850. In Europe, Sarawak black pepper price increased by three per cent.
WHITE PEPPER
The market continued to be quiet. In Bangka and Sarawak, local prices were relatively stable. But in dollar terms, prices increased marginally by one per cent due to weakening dollar rate against local currencies. In Europe, Muntok white pepper price increased by five per cent.
In Brazil, according to Brazilian Pepper Trade Board (BPTB), exporters stopped offering and were talking prices up to $3,700 f.o.b. for ASTA and $3,550 for B2 500 GL.
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