(May 18) – Spot prices continue to rise slightly as farmers continue to slow down sales. Trade activities are still limited due to the psychology of waiting for supplies to be imported from Vietnam and Sri Lanka, according to market sources. Business Line.
Establishment agents and federal trading companies continue to source goods at the farm gate, but the price between the two sides has yet to meet. Therefore, export trading companies are waiting for the supply of Vietnamese and Sri Lanka pepper to be imported under contracts signed in March and April. Importers then have 120 days to add value and re-export this shipment of imported raw materials. However, there have been allegations that they may have allowed the shipment to be smuggled into the domestic market.
The price of Rajkumari pepper in Idukki district was traded at Rs 715 a kg and Wayanad district in Kerala was traded at Rs 710 a kg, but it was still difficult to buy. Pepper farmers expect the upcoming supply will be tightened as drought is happening widely in major pepper countries threatening the yield and output of the next crop.
Yesterday, Tuesday 17/5, on the futures market only 23 tons of pepper were delivered and traded at 695 to 708 lakhs / kg.
Spot price of pepper increased by Rs 100 to Rs 69,700 a quintal for shovel (equivalent to 10,446 USD / ton) and Rs 72,700 / quintal for pre-processed pepper (equivalent to USD 10,896 / ton), up Rs 1,700 compared with the previous month.
On the IPSTA Spices Association Floor, June, July and August futures contracts remained stable at Rs 71,000 / quintal (equivalent to US $ 10,641 / ton), Rs 70,000 / quintal (US $ 10,491 / ton). ), and Rs 69,000 / quintal (equivalent to 10,341 USD / ton).
Special export price of MG1 Indian pepper was exported at US $ 11,000 per tonne (c & f) for European deliveries and US $ 11,250 per tonne (c & f) for US shipments, up US $ 100 from the previous month.
* According to a report of the General Department of Vietnam Customs, the export in April 2016 reached 24,336 tons of pepper of all kinds, with a value of 186.42 million USD, up 0.8% in volume and down 2.9%. in terms of value over the previous month but increasing by 25.0% in volume and 10.2% in value over the same period last year. The average export price of pepper in the month reached US $ 7,660 / ton, down 3.55% compared to the average export price of March 2016. In the first 4 months of 2016, Vietnam exported 68,556 tons of pepper of all kinds, with a total export turnover of USD 556 million.
* Exchange rate: 1 USD = 66.7234 lakhs
Source English (giacaphe.vn)
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