(June 22) – Exporters continue to look for sources of goods to fulfill their July delivery contracts, while the weather has returned to favorable conditions, delivery activities in growing regions are boosted, thanks to Purchasing power has also increased, according to Business Line market sources.
In the past few days, pepper prices increased continuously due to strong demand again in the context of still tight supply. However, long-distance traders said the price increase was due to improved quality, especially lower moisture content. While at the beginning of the month they didn’t even want to buy even though the offer was quite substantial.
Buyers have paid pepper prices of Pulpally and Bathery regions (in Wayanad district, Kerala state) at Rs 705 – 710/kg but the source of goods is very small. While pepper from Rajkumari Rajkumari (Idukki district, Kerala) was offered by the exporter at Rs 715/kg, but sellers were not willing to offer it at a price below Rs 720/kg. Karnataka pepper, offered at Rs 705 – 710/kg delivered anywhere in India.
Yesterday, Tuesday, June 21, only 8 tons of pepper arrived and was traded at Rs 710/kg.
On the spot market, pepper prices increased by Rs 200, to Rs 69,900/quintal (US$10,343/ton) for bucket pepper and Rs 72,900/quintal (equivalent to US$10,787/ton) for pre-processed pepper. Spot pepper prices have increased by Rs 1,000 from the beginning of the month.
On the IPSTA Spices Association Floor, the July, August and September contracts are at Rs 72,000/quintal, Rs 71,000/quintal and Rs 69,000/quintal respectively (equivalent to $10,654/ton, $10,506/ton and 10,210) respectively. USD/ton), remained stable compared to the beginning of the month.
Export price of Indian pepper, MG1 special grade was traded at $11,050/ton (c&f) for Europe and at $11,300/ton (c&f) for delivery in the US, up $150 from last week.
*According to the report of the General Department of Vietnam Customs, exports in May 2016 reached 21,351 tons of pepper of all kinds, with a turnover of USD 165.67 million, down 12.3% in volume and down 11.1%. in value compared to the previous month but increased by 23.4% in volume and 7.2% in value over the same period last year. The average export price of pepper in the period reached $7,759/ton, up 1.29% compared to the average export price of April 2016. Accumulated in the first 5 months of 2016, Vietnam exported 90,454 tons of pepper of all kinds, total export value of 725.5 million USD.
*Exchange rate: 1 USD = 67.5823 Rupees
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