Pepper prices increased sharply in the early days of February due to good purchasing power amid tight supply. Pepper growers keep their goods and expect higher prices while demand is peaking from winter until March.
>> Indian Pepper Market: Pepper prices continued to decline as new crop was harvested
Merchants bought directly from the doorstep of growers and from local market agents in Idukki district on the basis of cash and self-transport were rarely seen in the futures market.
On Tuesday, February 3, only 15 tonnes of pepper arrived and were traded at 600 to 610 lakhs / kg. Meanwhile, processing plants are running around searching for goods to cover contracts.
The monthly consumption demand of the Indian domestic market is in the range of 4,000 – 5,000 tons, so the pepper industry usually concentrates its activities during this time to avoid losses, the market source said. Business Line.
Contrary to the expectations of traders, the market supply has become tight, pushing prices up.
On the IPSTA Spices Association Floor, all three of the operating contracts remain unchanged. Specifically, the contracts for February, March and April are respectively Rs 65,337 / quintal, Rs 59,237 / quintal and Rs 55,136 / quintal (equivalent to USD 10,582 / ton, USD 9,594 / ton and 8,930 USD / ton).
Spot prices were stable at Rs 62,000 / quintal (US $ 10,042 / ton) for the pistachio and at Rs 65,000 / quintal (US $ 10,528 / ton) for the pre-processed grade.
Export prices of Indian pepper increased marginally to US $ 10,800 / ton (c & f) for fast shipment.
* According to the report of Agriculture and Rural Development, the export volume of pepper in January 2015 was estimated at 9 thousand tons, valued at US $ 49 million, down 11.6% in volume and down 28.6% in price. value over the same period in 2014. Average export price in 2014 was estimated at US $ 7,744 / ton, up 11.5% compared to 2013. United States, Singapore, United Arab Emirates, India and Ha Lan is the 5 biggest markets of Vietnam in 2014, accounting for nearly 50% of the total export value of this item.
* (USD 1 exchange rate = Rs 61.7416)
Source English (Giacaphe.vn)
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