Quality woes pull down spot pepper

GK Nair Kochi | Updated on January 12, 2018 Published on February 01, 2017

Spot pepper continued to fall on Wednesday on low bulk density and high moisture while the futures were firmer. Market sources told Business Line that there were sellers of such new pepper at lower levels.

On the terminal market, 17 tonnes were traded at ₹530-640 a kg. Spot prices fell further by ₹300 a quintal to ₹62,700 (ungarbled) and ₹65,700 (garbled).

February and March contracts on the IPSTA increased by ₹1,000 a quintal each to ₹66,000 and ₹64,000.

Export prices were at $9,950 a tonne c&f for Europe and $10,200 for the US.

According to exporters prices in the international markets are likely to fall once Vietnam and Indonesia reopens after the Chinese New Year holidays later this month. Vietnam has made forward sales of 500 GL pepper at $5,300 a tonne February/March shipments, they said.

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Published on February 01, 2017
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