(June 22) – Exporters continue to look for sources of goods to fulfill delivery contracts in July, while the weather has returned to favorable conditions, delivery activities in growing areas have been strengthened, thanks to that purchasing power also increased, according to Business Line's market sources.
Over the past few days, pepper prices have risen consecutively due to strong demand in the context of tight supply. Long-distance traders, however, said the price increase was due to improved quality, especially low humidity. While at the beginning of the month they didn't even want to buy even though the offering was quite significant.
The buyer paid a price for pepper at Pulpally and Bathery areas (Wayanad district, Kerala state) at 705 – 710 Rs / kg but the supply was very small. While the Rajkumari pepper area Rajkumari (Idukki district, Kerala) was offered by the exporter at Rs 715 / kg, but the seller was not ready to supply it at under 720 Rs / kg. Karnataka pepper, offered at Rs 705 – Rs 710 / kg delivered anywhere in India.
Yesterday, Tuesday 21/6, only 8 tons of pepper were delivered and was traded at Rs 710 / kg.
On the spot market, pepper price increased by Rs 200, to Rs 69,900 / quintal (USD 10,343 / ton) for the pint and 72,900 Rs / quintal (USD 10,787 / ton) for the semi-processed pepper. Spot prices increased by Rs 1,000 compared to the beginning of the month.
On the IPSTA Spices Association Floor, the contracts for July, August and September are respectively Rs 72,000 / quintal, Rs 71,000 / quintal and VND 69,000 / quintal (equivalent to USD 10,654 USD / ton, USD 10,506 / ton and 10,210). USD / ton), still stable compared to the beginning of the month.
Export price of Indian pepper, grade MG1, was traded at US $ 11,050 / ton (c & f) for Europe and US $ 11,300 / ton (c & f) for US deliveries, up US $ 150 from the previous week.
* According to the report of Vietnam General Department of Customs, the export 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 over the previous month but up 23.4% in volume and 7.2% in value over the same period last year. The average export price during the period reached US $ 7,759 / ton, up 1.29% compared to the average export price of April 2016. In the first 5 months of 2016, Vietnam has exported 90,454 tons of pepper of all kinds, total export turnover of US $ 725.5 million.
* Exchange rate: 1 USD = 67.5823 Rupees
Source English (giacaphe.vn)
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