(August 11) – However, Vietnamese and Sri Lanka pepper is ready to meet the needs of industry, according to market sources on Business Line.
With the advantage of having the same national border, so it enjoys the border trade regime, Sri Lanka continues to promote the sale of pepper to the Indian market thanks to the stronger Rupee exchange rate supporting the import. Industrialists can easily find Sri Lankan pepper at Chennai and Mumbai ports at an average transaction price of Rs 700 a kg. However, this phenomenon could affect Indian pepper growers, market sources said.
Although India has imposed a very high import duty on pepper to protect domestic pepper prices, until the end of the week, Vietnamese black pepper was offered USD 8,000 / ton for 550 Gr / l-FAQ and delivered at any port. According to traders, plus 60% of import tax, the price will not be less than Rs 695 / kg which is acceptable.
The reason that Vietnam pepper is said to have decreased is due to reports spread around the world markets that next year Vietnam will have a record bumper crop, estimated at 180,000 tons. While other major pepper growing countries also increased production, such as India 70,000 tons, Indonesia 70,000 tons, Brazil 60,000 tons, China 40,000 tons …
Yesterday, Wednesday 10/8, on the futures market only 12 tons of pepper were delivered and traded at Rs 695-703 / kg depending on the quality and region of production.
Spot prices of pepper remained stable at Rs 69,000 per quintal (US $ 10,338 per tonne) for pint and 72,000 Rs per quintal (US $ 10,787 per tonne) for pre-processed pepper, but a decrease of Rs 600. compared to the end of the previous month.
On the IPSTA Spices Association Floor, August, September and October contracts remained stable at Rs 72,000 / quintal, Rs 71,000 / quintal and Rs 70,000 / quintal (equivalent to USD 10,787 / ton, USD 10,638 / tons and 10,488 USD / ton).
Export price of Indian pepper is now at 10,950 USD / ton (c & f) for Europe and 11,200 USD / ton (c & f) for delivery in the US, down 75 USD from the beginning of the month.
* According to a report of Vietnam's Agriculture and Rural Development sector, the export volume of pepper in July 2016 was estimated at 15 thousand tons, with a value of US $ 125 million, bringing the export volume of pepper in the first 7 months of 2016 to 122 thousand tons and 988 US $ million, up 26.1% in volume and 9.2% in value over the same period in 2015. Average export price of the first 6 months of 2016 reached US $ 8,082 / ton, down 13.1% over the with the same period of 2015. The largest pepper export markets of Vietnam in the first 6 months of 2016 were the United States, United Arab Emirates, India and Germany with 42.9% market share.
* Exchange rate: 1 USD = 66.7443 Rupees
Source English (giacaphe.vn)
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