(August 25) – Although supply in major growing states remains tight, it has been offset by pepper from Sri Lanka and the smuggling of temporarily imported pepper.
The pepper market continued to maintain stability due to limited supply capacity. Leading exporters have purchased contaminated pepper at Walayar warehouse in Palakkad district for Rs 700 a kg, but not much, they said. Business Line.
In Northern Indian markets, pepper from Sri Lanka is sold at Rs 710 a kg. While in Mumbai, pepper raw materials imported from Vietnam to add value and re-export, suspected to have flowed to the market for Rs 685 / kg, according to trade sources revealed. .
Meanwhile, reports from traders in Jharkhand and Bihar, based in Kerala, Karnataka and Vietnam, forecast low prices in the next three years due to bumper harvests in all major producing countries. Negative impact on all markets.
On Tuesday 23/8, only 8 tons of pepper from the High Mountains were traded in the futures market for Rs 710 / kg. The tight supply continued to push spot prices up by Rs 200 to Rs 69,200 / quintal (USD 10,308 / ton) for shovel and at Rs 72,200 / quintal (USD 10,755 / ton) for Rs. semi-processed type.
On the IPSTA Spices Association's Floor, September and October contracts remained stable at Rs 71,000 / quintal and Rs 70,000 / quintal (equivalent to US $ 10,576 / ton and US $ 10,427 / ton), respectively, during the month contract. November decreased by Rs 1,000 to Rs 67,000 / quintal (approximately $ 9,980 / ton).
MG1 export price of India at 10,850 USD / ton (c & f) for Europe and 11,100 USD / ton (c & f) for goods to the US, down 100 USD compared to the first day of the month.
* According to a report of the General Department of Vietnam Customs, the export in July 2016 reached 14,404 tons of pepper of all kinds, with a turnover of 121.73 million USD, down 13.3% in volume and down 12.3% in value over the previous month but up 25.6% in volume and 8.9% in value over the same period last year. The average export price during the period reached US $ 8,451 / ton, up 1.19% compared to the average export price of June 2016. In the first 7 months of 2016, Vietnam exported 121,191 tons of pepper of all kinds, total export turnover of US $ 984.84 million.
* Exchange rate: 1 USD = 67.13.13 Rupee
Source English (giacaphe.vn)
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