Comments
Pepper prices continued to surge on non-availability amidst strong demand on spot and futures market. Spot prices shot up by ₹25 a kg on Monday to ₹575 a kg for ungarbled and ₹595 a kg for MG 1. On Monday, five tonnes of pepper were traded between ₹575 and ₹600 a kg. Dealers in Rajkumari said that though there were buyers at ₹600 and above, no seller was forthcoming to offer. Some of the farmers said they had exhausted their crop.
Arrivals have shrunk totally, market sources told Business Line . “It has become a sellers market,” they said.
The gap between Indian and prices of other origins widened so much that there is a possibility of imports, probably by under-invoicing and paying 70 per cent import duty and pushing that material into the domestic market to pull the prices down, traders said.
On the NMCE, April contracts increased by ₹1,754 a quintal to ₹60,220 a quintal. May contract was not traded.
On the IPSTA, April and May contracts ruled unchanged at ₹56,342 and
₹56,292.
Spot prices soared by ₹2,500 to a record ₹57,500 (ungarbled) and ₹59,500 (garbled) on strong demand amid very tight supply. Export prices also rose to $10,150 a tonne c&f Europe and $10,400 a tonne c&f US and continued to rule above other origins.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.