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Date: 06/21/2010
Pepper prices firm on tight supply 2010/06/21

G.K. Nair
Kochi, June 20
Pepper futures during the week moved up after dropping sharply early this week. In fact, the decline had made the Indian parity competitive and that in turn resulted in some overseas business coming to India for MG 1.
But, during the latter part of the week the prices moved up and coupled with strong rupee against the dollar the Indian parity increased and became non-competitive.
However, the prices in other origins were also firm at the weekend on tight supply position.
The exporters who had commitments bought back June delivery, which was cheap, and sold futures. Even planters in Karnataka became exporters and got orders...

USA Report
...Given this scenario, a report from the US said, “…as it seems that a trend or direction is being established, we feel that the more reluctant buyers shall enter the market and not wait for new crop Lampung. But, the problem with India is that it does not have enough exportable surpluses because of its strong domestic market and stagnant output at around 50,000 tonnes.

According to the report, the pepper market was on the move during the week.

Though the US market has remained reasonably quiet, Europe, West Asia and Asian markets were more active, it said. “Vietnam with solid exports to date remains very firm and continues to move upward with the constant demand. Indonesia has also moved up as well, as the attempt to push the market down earlier is not working at the moment. There is too much support from certain directions willing to buy pepper at the prevailing prices,” the report said. The Indonesian crop looks to be on target with mid-July heavy harvesting. Brazil remains steady without much pressure. White pepper in Vietnam is also moving upwards and it is expected the black prices will pull up the white prices v
ery shortly, it said.


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