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Sellers Withdrawal Supports Pepper Price Rise

13 Mar 2018 5:49 pm
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MUMBAI (Commoditiescontrol) - Kerala sellers withdrawal is reported to have aided the pepper prices to move up on Tuesday.

According to trade sources the Kerala sellers are keeping away from the market for the past couple of days.

This phenomenon coupled with reports of poor crop in Kerala and Karnataka is claimed to have prompted the sellers to withdraw from the markets, trade sources claimed.

Contrary to the projections of over 70,000 tonnes of output during the current season, the actual production is estimated at somewhere between 55,000 - 60,000 tonnes, some in the trade claimed.

On the terminal market only 10 tonnes of pepper from Karnataka were traded today at Rs.370 a kg. Exporters have bought it, they said.

Following a supply squeeze, spot prices increased further by Rs.200 a quintal to close at Rs.37,100 (ungarbled) and Rs.39,100 (garbled) a quintal.

Indian parity in the international markets was at $6,150 a tonne cf for Europe and $6,400 a tonne cf for USA.

(By Commoditiescontrol Bureau; +91-22-40015522)


       
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