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Uptrend Continues In Spot Pepper On Supply Squeeze

23 Jul 2019 6:24 pm
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MUMBAI (Commoditiescontrol) – Uptrend continued in the spot pepper on Tuesday following a supply squeeze due to sellers withdrawal from the markets.

"No sellers were forthcoming", market sources said.

On the terminal market 12 tonnes of pepper arrived today. Of thi
s 5 tonnes were from the plains and that were traded at Rs 325 a kg while 7 tonnes from the high ranges were sold at Rs 340 a kg. Interstate dealers have bought it.

Spot prices increased further by Rs 100 a quintal to close at Rs 33,600 (ungarbled) and Rs 35,600 (garbled) a quintal.

Trade sources claimed that during May and June 180 tonnes of pepper from Sri Lanka had arrived in India as Sri Lankan pepper imported by a single Indian importer. According to them more such consignments are expected in July/August.

Indian parity in the international market was at $5,400 a tonne c &f for Europe and $5,650 a tonne c & f for USA.

(By Commoditiescontrol Bureau)

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