Pepper Prices and Jeera Prices India Fall in January 2012

Pepper prices fell by 0.33 per cent to Rs 32,000 per quintal in futures trade today as speculators trimmed their positions amid sluggish domestic and export demand, but speculation of lower production limited the losses.

At the National Commodity and Derivatives Exchange, pepper for February delivery fell by Rs 105, or 0.33 per cent, to Rs 32,000 per quintal, with an open interest for 1,610 lots.
In a similar fashion, the spice for delivery in January shed Rs 70, or 0.22 per cent, to Rs 31,640 per quintal, with an open interest for 58,896 lots.

Analysts attributed the weakness in pepper futures to sluggish domestic and export demand, but said reports of lower output estimates restricted the losses.

Black pepper and jeera prices fell by up to Rs 300 per quintal in the national capital on Saturday on reduced offtake by retailers and stockists amid adequate stocks position.

Black pepper prices declined further by Rs 300 to settle at Rs 32,400-33,500 per quintal on reports of supplies of new season crop.

Jeera common and jeera best quality also traded lower at Rs 14,800-15,000 and Rs 17,800-18,300 against previous closing of Rs 15,000-15,200 and Rs 18,000-18,500 per quintal, respectively.

Marketmen said reduced offtake by retailers and stockists against adequate stocks mainly put pressure on the pepper and jeera prices in the wholesale kirana market here.

The following are today’s quotations:Ajwain 12,000-16,500, black pepper common 32,400-33,500, betelnut (kg) 110-120, cardamom brown-Jhundiwali (kg) 630-730,and cardamom brown-Kanchicut (kg) 950-1,050.

Cardamom small (kg): Chitridar 475-500, cardamom (colour robin) 485-525, cardamom bold 495-515, cardamom extra (bold) 635-755 and cloves (kg) 775-850.