Spot pepper prices remained stable due to consistent demand and supply, according to Business Line.
Leading exporters and multinational companies, having fulfilled their commitments, bought the goods. However, the number of goods is still limited.
Merchants have also withdrawn from the state of Kerala because supplies from the High Mountains are currently limited. While in Idukki district heavy rains made transportation of goods very difficult.
Sales pressure in Karnataka state continues to be high and new pepper is offered at Rs 475 / kg. Traders said the reason for this price is due to low quality pepper, especially very high humidity.
The price of semi-processed pepper sold at Rs 520 per kg. Pepper in the High Mountains was traded at 525 – 530 Rs / kg, while high quality pepper for crushing was sold at Rs 525 / kg. In the futures market, 37 tonnes of pepper were traded.
Spot prices remained unchanged at Rs 52,000 / kg (US $ 8,389 / ton) for all types of pepper and 55,000 Rs / kg (US $ 8,873 / ton) for processed pepper.
Yesterday on March 4, on the IPSTA Spices Association Floor, March contract fell by Rs 1,000, to Rs 55,592 / quintal (US $ 8,968 / ton), while the contract for the remaining months increased by Rs 1,000. up to the same price.
Export price of Indian pepper is currently at 9,100 USD / ton delivered in March. While April and May delivery is at 8,900 USD / ton and 8,850 USD / ton.
Vietnam is reported to have offered Asta black pepper at USD 9,000 / ton
* According to the report of Agriculture and Rural Development, the export volume of pepper in February 2015 was estimated at 11 thousand tons, valued at US $ 100 million, bringing the pepper export volume in the first 2 months of 2015 to 22 thousand tons with worth 199 million USD, down 8.7% in volume but up 24.0% in value. The average export price of pepper in January 2015 reached 9,470 USD / ton, up 40.95% over the same period in 2014. Export of pepper to Singapore, the United States and India – the three largest markets of Vietnam in January 2015 accounted for 49.41% market share.
* (USD 1 exchange rate = Rs 61,9891)
Source English (giacaphe.vn)
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