(December 11) – Commercial activity in the market is still limited as there is no selling pressure while buyers continue to wait for more new crops to come out, according to market sources on the market. Business Line.
According to primary market agents in the state of Kerala, farmers and dealers are not ready to sell at current prices while growers expect a little more positive price.
Market sources of Business Line It is believed that 60-70 tons of pepper believed to be contaminated have been released and sent to the central market in the states.
Besides, in the northern central markets of India also appeared Sri Lankan pepper and new season pepper, although still dripping.
Yesterday, Thursday, December 10, 13 tons of pepper were traded, including 6 tons from the High Mountains, 2 tons from the plains and 5 tons of pre-processed pepper, respectively at Rs 650/kg. , 655 Rupees/kg, 660 Rupees/kg.
Meanwhile, traders in Idukki district – Kerala said that Rajkumari pepper was traded at Rs 670/kg.
They further added that dealers in other central markets in Maharashtra, Rajasthan, Delhi and Madhya Pradesh, did not buy pepper there as they believed that the pepper stock in these centers was given to is tainted, and is offered for sale at Rs 650/kg.
The rising spot price of pepper is currently at Rs 65,600/quintal for bucket pepper ($9,826/ton), and Rs 68,600/quintal ($10,276/ton) for pre-processed pepper.
On the IPSTA Spices Association Floor, December, January and February futures were at Rs 69,000 per quintal, Rs 61,500 per quintal and Rs 55,000 per quintal (equivalent to $10,336/ton, $9,212/ton, respectively. and $8,239/ton), down Rs 500.
India’s export pepper price is currently at $10,600/ton (c&f) for Europe and $10,850/ton (c&f) for the US, down $100 from the first day of the month and still higher than the export price of pepper from India. other origins.
However, foreign buyers said that they had received an offer from India for the new season pepper price below 10,000 USD/ton.
* According to a report of Vietnam’s Agriculture and Rural Development sector, the export volume of pepper in November 2015 is estimated at 6 thousand tons, with a value of 65 million USD, bringing the export volume of pepper in the first 11 months of 2015 to 124,000. tons with a value of USD 1.18 billion, down 17.3% in volume but up 2.8% in value. The average export price of pepper in the first 10 months of 2015 reached $9,521/ton, up 24.9% over the same period in 2014. The largest pepper export markets of Vietnam are the United States and United Arab Emirates. Nhat and Singapore with 36.14% market share. The markets with strong increase in value were Germany (39.46%), UK (33.16%), Korea (30.07%), and Spain (29.56%).
*Exchange rate: 1 USD = 66.7594 Rupees
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