Pepper rules firm as Kerala hartal hits trade

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KOCHI, NOV. 18:

Pepper futures ruled firm, while spot prices remained steady on limited activities.

Activities in primary markets in Idukki and Wayanad districts and the terminal market here were limited due to the hartal called by the protesters against the implementation of the Kasturirangan Report on the Preservation and Conservation of the Western Ghats.

On the NMCE, December and January contracts were up by Rs 184 and Rs 483 respectively to (Rs 52,235 and Rs 52,209 a quintal.

On the IPSTA, December and January rose by Rs 300 and Rs 295 to Rs 51,314 and Rs 52,227 a quintal.

Spot prices remained unchanged on limited activities at Rs 49,800 (ungarbled) and Rs 51,800 (garbled) a quintal.

Indian parity in the international market was at $8,750 (c&f) for Europe and $9,050 (c&f) for the US. All the other origins are reportedly firmer on tight supply situation.

Indonesian and Vietnam Asta grade pepper, according to an overseas report today, was quoted above $8,000 and up to $8,450 a tonne (c&f) Europe.

According to S. Kannan, Executive Director, International Pepper Community (IPC), as pepper players from major producing countries such as Vietnam, Indonesia, India, Brazil, Malaysia, Sri Lanka, China and Cambodia were attending the 41st annual meet at Kuching, Malaysia, prices in most of the producing countries stayed relatively stable.

“In India, the price increased by 5-6 per cent. Marginal decreases (in dollar) in domestic market of Lampung and Kuching, Sarawak were recorded due to weakening of their local currency against the dollar,” he told Business Line.

Source: The Hindu

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