(11/14) – With preferential import tariffs under the South Asia Regional Trade Agreement (SAFTA), pepper imported from Sri Lanka flooded the Indian market during the past 5 months.
Farmers in Karnataka are harvesting
According to estimates, since the beginning of 2017, there have been more than 11,000 tons of pepper imported from Sri Lanka, causing the price of Indian farmers to drop sharply, especially in recent months, according to trade sources. Business Line.
While South Asia Trade (SAFTA) agreed to only import pepper from Sri Lanka at about 5,000 tons, in order to supplement the growing domestic demand, especially since the pepper output. India has dropped significantly because of the disease and India is no longer the world's top pepper producer.
At the 45th Annual Meeting of the International Pepper Community (IPC), held in Candy – Sri Lanka, India, this year it will import 18,000 tons of pepper, an increase of 2,000 tons compared to 2016.
The Indian report estimates that this year's production will reach 57,000 tons and is expected to reach 64,000 tons in 2018 due to favorable weather conditions, while domestic demand next year will be about 58,000 tons compared to the previous year. Only 55,000 tons this year, and therefore, they expect pepper exports will continue to increase also thanks to the quality of Indian pepper with very competitive prices in the international market.
Yesterday, Monday 13/11, the delta's pepper was traded at Rs 410 a kg, while Karnataka pepper was sold at Rs 390 a kg, approximately the same price as that of Sri Lanka.
Spot prices decreased further by Rs 100 to Rs 40,900 a quintal (US $ 6,251 / ton) for the pail and Rs 42,900 a quintal (US $ 6,557 / ton) for the pre-processed grade.
On the NCDEX commodity floor, November delivery fell Rs 1,205 to Rs 39,000 / quintal and December delivery decreased Rs 1,100 to Rs 41,000 / quintal (equivalent to USD 5,961 / ton and 6,266 USD / ton). .
MG1 special pepper export price at US $ 6,750 / ton (c & f) for European deliveries and US $ 7,000 / ton (c & f) for delivery in the US.
* According to a report of the General Department of Vietnam Customs, the export in October 2017 reached 11,039 tons of pepper of all kinds, with a turnover of US $ 50.94 million, down 18.3% in volume and down 21.6% in volume. value over the previous month but increased by 21.0% in volume and down 20.9% in value over the same period last year. The average export price in the period reached US $ 4,614 / ton, down 3.95% compared to the average export price of September 2017. In the first 10 months of 2017, Vietnam exported 192,235 tons of pepper of all kinds, with a total export turnover of US $ 1.02 billion.
* Exchange rate: USD 1 = Rs 65,4273.
Source English (giacaphe.vn)
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