In recent days, Indian pepper prices have been declining due to limited activities, while buyers want to wait for new arrivals to arrive, according to market sources. Business Line.
Yesterday, Monday 8/12, reports said pepper prices continued their downward trend before selling pressure, although on the spot market did not have any shipments and supply lines. level also have no goods.
On the weekend, about 10 tons of pepper from Wayanad district of Kerala state were transferred and traded at Rs 685 / kg. At the same time, a domestic trader based in Coorg (another name of the district of Kodagu, Karnataka state) offered new pepper for March delivery at Rs 535-55 lakhs / kg.
Market sources said buyers of the consumer market were slow to redeem due to the prediction that a significant amount of pepper held in stock from last year would be released. This information, together with Kodagu's production report, will double this year, and futures sales of Rs 525 / kg have dragged the market down.
However, on the IPSTA Spices Association Floor all three operating contracts remained unchanged. Specifically, the contracts for January, February and March were respectively 65,964 Rs / quintal, Rs 62,337 / quintal and Rs 62,237 / quintal (equivalent to USD 10,644 / ton, USD 10,058 / ton and USD 10,042 / ton).
While spot prices decreased by Rs 300 to Rs 67,700 a quintal (equivalent to US $ 10,924 / ton) for pint and 70,700 Rs / quintal (US $ 11,408 / ton) for the pre-processed grade.
The price of Indian pepper exported at US $ 11,825 / ton (c & f) delivered to Europe and US $ 12,125 / ton (c & f) delivered in the US.
* According to the report of Agriculture and Rural Development of Vietnam, the export volume of pepper in November 2014 was estimated at 6 thousand tons, with a value of US $ 54 million, bringing the export volume of pepper in the first 11 months to 151 thousand tons at a price USD 1,162 billion, up 18.1% in volume and 35.7% in value over the same period in 2013. Average export price of the first 10 months of 2014 reached US $ 7,625 / ton, up 14.26 % compared to the same period in 2013. United States, Singapore, United Arab Emirates, India and Netherlands are the five largest markets of Vietnam in the first 10 months of 2014, accounting for 50% of total pepper export. .
* (USD 1 exchange rate = Rs 61.9750)
Source English (Giacaphe.vn)
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