(17/9) – Imported pepper from Sri Lanka flooded the market, pushing Indian pepper prices down continuously, according to trade sources on Business Line.
Within a month, the price of black pepper in the Indian market decreased to Rs 1,600 a quintal (equivalent to a reduction of US $ 250 per tonne) and there was no possibility of stopping.
Most of the pepper consumption centers across India are flooded with pepper imported from Sri Lanka offered at Rs 400 – 410 Rs, but local traders want lower prices, while pepper. Kamataka was offered at Rs 450 a kg but there were no buyers.
According to trade sources, while many ports are applying an 8% import tax on the minimum import price of US $ 6,000 per tonne paired with Sri Lanka pepper, some ports in South India still count on actual purchase prices. . This has helped importers to sell pepper at a much lower price.
However, the market was still not active due to the absence of both sellers and buyers
On Friday, September 15, only a few tonnes of pepper were traded in the futures market for Rs 450 a kg.
Spot prices were further down by Rs 100, to close at Rs 44,800 a quintal (US $ 6,992 per tonne) for pepper and to Rs 46,800 a quintal (US $ 7,304 per ton) for semi-processed pepper.
On NCDEX (Kochi), the price of September futures was unchanged at Rs 45,005 / quintal (equivalent to US $ 7,024 / ton), October 10/17 increased by Rs 375 to Rs 44,895 / quintal (equivalent to Rs. 7,006 USD / ton) and the term of November 17 stood at Rs 44,000 / quintal (equivalent to 6,867 USD / ton).
MG1 pepper price – India exported at USD 7,550 tons (C&F) delivered in Europe and USD 7,800 / ton (C&F) delivered in the US.
* According to a report of the General Department of Vietnam Customs, the export in August 2017 reached 20,215 tons of pepper of all kinds, with a turnover of US $ 92.19 million, down 6.1% in volume and down 4.6% in volume. value compared to last month but increased by 23.9% in volume and down 18.2% in value over the same period last year. The average export price in the period reached 4,561 USD / ton, up 1.58% compared to the average export price of July 2017. In the first 8 months of 2017, Vietnam exported 167,996 tons of pepper of all kinds, with a total export turnover of US $ 903.36 million.
* Exchange rate: 1 USD = Rs 64,0771
Source English (giacaphe.vn)
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