The Hindu Business Line : Pepper futures gain on buying interest

Buying interest by exporters for physical pepper pushed up pepper futures prices on Monday. Prices for May delivery moved up to Rs 7,115 a quintal on Monday from Rs 7,081 on Saturday.

Prices for other positions had also shown an upward swing of Rs 25- 30 a quintal.

Spot prices remained steady on buying support.

IPC price index

The International Pepper Community Price Index for black pepper declined by 1.3 points in March , according to IPC sources.

The decrease in prices was mainly influenced by the price decrease in Vietnam, the main source during the month, while prices of white pepper at all origin improved. The market for black pepper continued to show a mixed trend. In Vietnam the market was active as the bulk of the crop was harvested. However, prices decreased compared to the previous month. Local prices at Ho Chi Minh City recorded at the end of March were $1,170 a tonne and $1,197 a tonne f.o.b for 500g/l, compared to $ 1,192 and $ 1,220 a tonne respectively, in the last week of February, a fall of almost 2 per cent.

Unlike Vietnam, the market at Kochi was quiet.

Prices in the first week of March were up sharply from February with un-garbled at $1,588 a tonne but then decreased steadily to $1,507 a tonne at the end of the month. The average price however, was higher by 3 per cent compared to the average price in February. FOB prices reflected the same trend, falling from $1,814 in early March to $1,731 at the end of the month.

In Sarawak, local prices also showed a slight decrease, but FOB prices were reported stable. In Lampung and Sri Lanka, local prices showed an increasing trend, but trading activity was very limited.

More Stories on : Spices & Condiments | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ICAR spots improved rice varieties

AP Govt uses NIN tech in fortified wheat flour

Agriculture: Flowering China, withering India

Rubber exports top 70,000 t

Call to boost rubber output

Spot rubber scales new high

Pakistan looks for more sugar from India

Cooperative factories look to globalise tea market

Extend loans to small tea growers, RBI tells banks

`India must increase tea exports to Pak'

Pepper futures gain on buying interest

Red chilli futures price seen firm