After the decision to end the social gap on June 8 of some major markets in the North, the demand for pepper in the Indian domestic market increased sharply, recording an increase of up to Rs 10 / kg. .
The market increased the price of pepper by Rs 10 a kg just before opening. Mr. Kishore Shamji of Kishor Spices said.
The market is showing interest when the inventory is insufficient during the quarantine. It is this trend that will keep prices stable in material areas.
Due to a sharp increase in profits, large dealers and long-distance traders consider that the price will likely increase.
However, local traders said that the big dealers in Kerala and Tamil Nadu states that recently signed a contract to import pepper from Sri Lanka under SAFTA, pushed the price up together, he said. Shamji added.
Reportedly, the Government has imported an additional 500 tons of pepper from Sri Lanka at the preferential tax rate of 8%, so they tried to keep the price of pepper high to ease the release of imported goods upon arrival.
In contrast, pepper farmers in the southern states continue to ask the Indian Spices Board to find ways to limit illegal pepper imports from Sri Lanka. They claim that importers have misrepresented the quantities with many different documents to gain illicit profits.
Last week, the volume of processed black pepper delivered to the Kochi futures market increased by 33 tons, with a stable price of Rs 315 / kg (equivalent to USD 4,1725 / kg).
MG1 Indian black pepper export price is now at 4,408 USD / ton, down 1.03%, while Vietnam black pepper grade 500 Gr / l-Asta at 2,530 USD / ton, up 27.78% and black pepper. type 550 Gr / l-Asta at US $ 2,600 / ton, up 29.55%. The highest increase was Indonesian black pepper grade 570 Gr / l-Asta at US $ 2,620 / ton, an increase of approximately 44%, compared to the first days of April when social measures were taken to strengthen Prevention of pandemic Covid-19 spread.
Source English (giacaphe.vn)
