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Pepper Gains As Sellers Hold Back

11 Oct 2018 5:54 pm
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MUMBAI (Commoditiescontrol) - The spot pepper on Friday gained, albeit marginally, as the sellers were holding back following no arrivals from the growers in the primary markets of Idukki and Wayanad districts.

According to market sources, Tamil Nadu based dealers were covering high range pepper at ₹375 a kg from the door steps of the growers on cash and carry basis. As a result, the growers were not forthcoming sell.

Meanwhile, interstate dealers were quoting ₹370 a kg for Pulpally and Bathery pepper on a four-week deferred payment. But, the sellers were reportedly not ready to sell at below ₹400 a kg on credit for four weeks.

Since yesterday the trend has changed with no sellers forthcoming to sell at the prevailing prices. They might be anticipating rise in demand in view of the Navrathri and ensuing Divali and a consequent price increase, trade sources claimed.

On the terminal market, only five tonnes of high range pepper were traded at ₹375 a kg, they said.

Spot prices moved up by ₹100 a quintal to close at ₹36,600 (ungarbled) and ₹68,600 (garbled) a quintal.

Indian parity in the international markets was at $5,425 a tonne c&f for Europe and $5,675 a tonne c&f for USA.

(By Commoditiescontrol Bureau; +91-22-40015567)

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