Spot pepper prices rebounded due to strong buying demand from leading exporters for high-weight pepper. While the current wet weather in the main pepper growing areas has caused the cost of pre-processing machinery to increase, according to a market source. Business Line.
Domestic buyers in the northern states are waiting for pepper “alleged mineral oil poisoning” released at a more affordable price.
The price of pepper in buckets has increased to Rs 655 – 660/kg. Pepper from Wayanad district in Kerala was offered at Rs 637 – 638/kg and pepper in High Mountains was sold at Rs 645 – 650/kg, while pepper from Coorg region was offered at Rs 630/kg and cash transactions on the premises.
Sri Lankan peppers of 500 Gr/l and 550 Gr/l grades were supplied across the border at $9,500/ton and $9,700/ton respectively.
Vietnamese pepper was reported at $9,700/ton black and $13,500/ton white.
Yesterday, Wednesday, July 22, 42 tons of pepper were traded on the futures market.
Spot pepper prices have increased by Rs 500, to Rs 62,500/quintal ($9,837/ton) for bucket pepper and Rs 65,500/quintal ($10,309/ton) for pre-processed pepper.
On the IPSTA Spices Association, the August contract and the September contract remained unchanged, at Rs 66,500/quintal (equivalent to 10,467 USD/ton) and 66,999 Rs/quintal (equivalent to 10,455 USD/ton).
Indian pepper export prices remained stable at 10,750 USD/ton (c&f) for European deliveries and 11,000 USD/ton (c&f) for US shipments, but decreased slightly by 200 USD compared to the beginning of the month.
*According to the report of the General Department of Vietnam Customs, exports in June 2015 reached 13,934 tons of pepper of all kinds, with a turnover of US$135.48 million, down 25.4% in volume and down 22.1% in value compared to the previous month and decreased by 20.4% in volume but increased by 3.4% in value over the same period last year. The average export price of pepper in the period reached 9,723 USD/ton, up 4.46% compared to the average export price of May 2015.
*Exchange rate : 1 USD = 63.5339 Rupees
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