As the dollar strengthened, the rupee fell once more to a record price. With the strengthening of the dollar, investors in the international market have reduced their quest to buy gold. Investors turned their attention to the dollar. Gold settled down $14 an ounce (31.100 mg) in New York City as investors retreated. Gold fell to $1,812 an ounce from $1,826. It is alleged that the price of gold has been raised in the domestic market while the international price has fallen. Although there is less demand for jewellery, Pawan raised the price by Rs 160. Pavan reached Rs 38,200 over the weekend from Rs 38,040. The rupee weakened as the dollar hit an all-time high once morest the exchange rate. 60 paise loss on exchange rate. The rupee fell to Rs 78.95 from 78.35.
Black gold remains unchanged in price
While the flow of imported chillies continues to be heavy in the North Indian markets, there is no demand for local chillies in the Kochi terminal market. The price was held unchanged. Chillies imported from Brazil and Vietnam are brought to Manipur via Myanmar and transported to North Indian markets in trucks and lorries via More village.
The sale continues at a lower rate than the Kochi price. In addition to this, improper imports from Brazil are also continuing. With the increase in imports, the pepper farmers of the state are going to face financial loss. Meanwhile, the state’s agriculture department conducted a survey on pepper cultivation. According to the survey, the production of pepper in the next cropping season is 100,000 tonnes.
Of this, 50 percent is from Karnataka, 40 percent from Kerala and 10 percent from Tamil Nadu. Traders, farmers and exporters are not hopeful regarding the agriculture department’s survey. Sometimes production may increase or decrease. There may be a change in the price of pepper if we follow the survey of the agriculture department. Farmers and middlemen say that Kerala is ahead of Karnataka in production. Last week, 155 tonnes of black pepper reached Kochi for sale. The weekend price of ungarbled pepper is Rs 48,900 per quintal, garbled chilli is Rs 50,900 and fresh chilli is Rs 47,900 per quintal. Harvesting has started in Sri Lanka. Brazil 3,400, Vietnam 3,700, Indonesia 3,600 dollars.
Tire companies hiked rubber prices
Rubber is in demand. Due to the threat of import by the tire companies due to low international prices, the rubber inflow for sale has been a setback for the tire companies. Tire companies started raising prices as they did not get enough rubber.
Rubber RSS was sold at 173 rupees 50 paisa per 4 kg and the tire companies raised the price to 177 rupees. Later it was increased to 178 and bought. Big tire companies in North India bought the weekend by increasing the price to Rs.179. Demand from tire companies benefited farmers last week. The price has increased from Rs 2 50 paise to Rs 3 50 paise per kg.
In the international market, China’s Shanghai Exchange stopped trading at Rs 150 for July holiday Rs 150 per four kg, Japanese Exchange at Tokyo Market at Rs 150 and Bangkok at Rs 156 at ready rate.
Domestic price has reached 179. Big tire companies are trying to import to prevent rising domestic prices while international prices have fallen. Weekend price Rs 17,900 for RSS four quintal and unsorted Rs 17,700. Last week in Kochi, dealers supplying to tire companies bought 300 tonnes of rubber. 100 tonnes of rubber was traded for small tire companies.
Coconut oil prices remain unchanged
As the demand for edible oils decreased, the price of palm oil fell once more. Groundnut, sunflower and bran oil prices continued to fall.
14,600 per quintal for coconut oil milling, 14,000 for ready, 8,450 for copra proof and 8,250 per quintal. 480 quintals of coconut oil were traded last week in Kochi. 12,650 per quintal of palm oil.
Gulf demand for tea
Leaf and powder prices increased on demand from exporters and packet makers. Exporters bought the orthodox leaf at Rs 4 to Rs 7 per kg.
Packet makers AVT, Tata Tea, Hindustan Liver and Cyplaco CTC raised the price by Rs 3 to Rs 5 per kg. Due to demand for tea in the Gulf, the price of tea rose in the auction held in Kochi last week. 4,21,000 kg of leaves and 8,91,700 kg of powdered leaves were auctioned.
Joseph Vennikulam
