Spot pepper prices remained stable despite a somewhat tight supply. However, buyers are now interested in looking for pepper with a lower weight.
While most of the pepper traded today is from Karnataka mixed with Kerala pepper, trade sources reveal with BusinessLine.
Yesterday, Tuesday, June 15, 46 tons of pepper were delivered to the futures market and all were traded at Rs 630-640/kg. Rajkumari pepper (Idukki district) was traded at Rs 645/kg while pepper in the High Mountains was selling at Rs 640/kg and pepper in Pulpally and Battery (Wayanad district) was selling for Rs 630-635/kg. kg. Preliminarily processed pepper is offered by the crushed pepper producer for Rs 630/kg.
Spot pepper prices remained stable at Rs 62,000/quintal (US$9,685) for bucket pepper and Rs 65,000/quintal ($1,153/ton) for pre-processed pepper.
On the IPSTA Spices Association Floor, the June, July and August futures contracts simultaneously fell by Rs 1,000/quintal, and stood at Rs 65,506/quintal (equivalent to USD 10,232/ton).
Export price of pepper from India rose to 10,500 USD/ton (c&f) for European deliveries and 10,750 USD/ton (c&f) for US goods, a slight increase of 50 USD/ton compared to the previous week, mainly due to the dong. Rupees get stronger.
* According to the report of the General Department of Vietnam Customs, exports in May 2015 reached 18,688 tons of pepper of all kinds, with a turnover of 173.943 million USD, up 13.9% in volume and up 13.9% in price. value compared to the previous month and decreased by 21.9% in volume but increased by 2.7% in value over the same period last year. The average export price of pepper in the period reached 9,308 USD/ton, down 0.01 % compared to the average export price of April 2015.
*Exchange rate of 1 USD = 64.0177 Rupees
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