Indian black pepper price: Increase due to high demand

Demand for pepper in the country continues to increase. In North Indian markets there is competition between the Kamataka pepper and the import target being offered at cheap prices, according to Business Line.

Pepper in Pulpally and Bathery in Wayanad district in Kerala is traded at Rs 490 per kg but supplies are limited. While Kamataka pepper was offered in the northern markets at Rs 475-480 a kg and imported pepper was offered at Rs 456-460 a kg, the difference was Rs 20 a kg.

However, the quantity of good quality pepper was very limited and imported pepper was not much.

Yesterday, spot prices were up by Rs 200 to Rs 48,400 ($ 7,538) a tonne and Rs 50,400 a tonne ($ 7,850 a tonne). ) for pre-processed pepper.

On the NCDEX, futures for September delivery rose 570 rupees to Rs 48,470 a quintal and the October contract rose Rs 450 to Rs 48,450 a quintal ($ 5,749 per tonne and 5,746 dollars per tonne). .

According to statistics from the floor, the price of pepper futures has almost increased continuously as the number of open contracts increased significantly. And this, coupled with a limited domestic supply, helped spot prices rise steadily since the resumption of the NCDEX futures exchange on July 24.

India’s export grade, MG1 grade, was at $ 8,125 a tonne for European deliveries and $ 8,350 a tonne delivered in the United States.

* According to the General Department of Vietnam Customs, exports in July 2017 reached 21,536 tons of pepper of all kinds, valued at $ 96.69 million, down 5.8% in volume and down 10.4% in value. value over the previous month but increased 22.4% in volume and 17.3% in value over the same period last year. The average export price in the period reached $ 4,490 / ton, down 1.69% compared to the average export price in July / 2017. In the first seven months of 2017, Vietnam exported 147,388 tons of pepper of all kinds, with a total value of USD 809.28 million.