Indian pepper prices continued to rise sharply due to higher domestic demand amidst tight supply, according to the report Business Line said.
Primary market traders in Pulpally and Bathery (Wayanad district, Kerala) have reported liquidation of old crop at Rs 715 / kg but buyers have only paid Rs 710 / kg. While Rajkumari pepper (Idukki district, Kerala) was supplied at Rs 725 / kg and pepper in other regions of the High Mountains is being offered at Rs 723 / kg.
On the IPSTA Spices Association floor, all active contracts have increased by Rs 1,000. Specifically, the contracts for December, January and February increased by Rs 66,665 / quintal, Rs 61,800 / quintal and Rs 62,026 / quintal (equivalent to USD 10,823 / ton, USD 10,034 / ton and USD 10,070 / ton), respectively. .
On the spot, only 12 tons of pepper were delivered and all were traded. On the spot market, the price skyrocketed by Rs 500 to Rs 70,300 / quintal (USD 11,414 / ton) for the pistachio and Rs 73,300 / quintal (USD 11,901 / ton) for the pre-processed type.
The price of Indian pepper increased to US $ 12,500 per tonne (c & f) for delivery to Europe and US $ 12,750 per tonne (c & f) for delivery in the US, up US $ 200 from the previous week.
Answered a recent interview of Business LineMr. S. Kannan, Chairman of the Indian Spices Council, who is also the CEO of IPC, said that this year, it exported about 59,036 tons of pepper of all kinds, compared with an estimate of 84,706 tons of pepper. types last year. Mr. S. Kannan also expects prices to remain high until the end of this month, then can remain stable until March 2015 to change.
* (USD 1 exchange rate = Rs 61.5932)
Source English (Giacaphe.vn)
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