After the decision to end the social gap on June 8 of some major markets in the North, demand for pepper in the Indian domestic market increased sharply again, recording an increase of up to Rs 10 / kg. .
The market increased pepper prices by Rs 10 / kg just before the opening. According to Kishore Shamji of the company Kishor Spices said.
The market is showing interest when there is a shortage in inventory during the quarantine period. This trend will keep pepper prices steady in the raw material areas.
Due to the relatively increase in profit, the big dealers and long distance traders assessed the possibility that pepper prices will increase further.
However, local traders say that does not rule out the possibility that major agents in the state of Kerala and Tamil Nadu recently signed a contract to import pepper from Sri Lanka under SAFTA, which together pushed up pepper prices, he said. Shamji added.
Reportedly, the government has imported 500 tons of peppercorn from Sri Lanka at the preferential tax rate of 8%, so they tried to keep the price of pepper at a high level to easily release the imported goods upon arrival.
In contrast, pepper farmers in the southern states continued to ask the Indian Spices Board to find a way to limit illegal pepper imports from Sri Lanka. They assume that the importers have misrepresented a number of different documents to get illegal profits.
Session last week, the volume of preliminarily processed black pepper delivered to the Kochi futures market increased by 33 tons, with a stable price at Rs 315 / kg (equivalent to $ 4.1725 / kg).
Export black pepper price of MG1 India is currently at 4,408 USD / ton, down 1.03%, while Vietnamese black pepper grade 500 Gr / l-Asta is at 2,530 USD / ton, up 27.78% and black pepper. grade 550 Gr / l-Asta at $ 2,600 / ton, up 29.55%. The highest increase was Indonesian black pepper grade 570 Gr / l-Asta at $ 2,620 / ton, up approximately 44%, compared with the early days of April when the implementation of social measures to strengthen the prevention of the Covid-19 pandemic spread.
According to English (giacaphe.vn)
