Pepper Offers Vietnam - Pepper recovers on buying interest

Vietnam was reportedly easier and offered V Asta at $6,500 (c&f) while Brazil B Asta was at $6,450-6,475 a tonne.

http://brazil-trade-business.com/pepper_vietnam

Kochi, April 17:  

Pepper prices recovered on buying support on Wednesday. April opened at Rs 36,100 a quintal and May contract stood at Rs 35,295.

Short position holders, who were keeping the market low, were buying back. In fact, they were artificially creating high turnover, market sources told Business Line.

On the spot, 22 tonnes of fresh pepper arrived and that were all traded afloat at an average price of Rs 344 a kg.

Selling pressure continued to persist in Karnataka and low bulk density pepper was being moved out at low prices. Meanwhile, traders from Ernakulam district of Kerala were said to be buying heavily from Idukki for transporting by rail to upcountry markets, they said.

April contract on the NCDEX increased by Rs 65 to Rs 36,095. May contract went up by Rs 230 to Rs 35,225.

Total turnover decreased by 341 tonnes to 461 tonnes. Total open interest dropped by 64 tonnes to 1,359 tonnes.

Spot prices remained unchanged at Rs 34,400 (ungarbled) and Rs 35,900 (MG 1) a quintal.

Indian parity in the international market was at $6,850 (c&f) for prompt and April shipments, while May was at $6,725 (c&f). Vietnam was reportedly easier and offered V Asta at $6,500 (c&f) while Brazil B Asta was at $6,450-6,475 a tonne.