The appreciation of the Rupee against the USD, combined with an abnormal increase in the Indian market, may support the import of pepper from Vietnam.
Prices in the Indian domestic market are now over 9,000 USD / ton while Vietnam is currently supplying at 7,300 – 7,400 USD / ton, which is a very large price gap, trade sources said. .
Therefore, the exemption of import of pepper from Vietnam cannot be excluded. In that case, domestic pepper prices will fall, market sources said Business Line. Anyway, availability in India, even at current high prices, is now very tight. There are no sellers even at Rs 521 / kg for the bucket type.
On the NMCE National Commodity Exchange, April delivery contracts rose 1,625 to Rs 55,700 a quintal ($ 9,279 per tonne). (1 USD = 60,0261 Rupees)
On IPSTA, there were still buyers ordering April delivery at the ceiling price of Rs 54,342 / quintal (US $ 9,053 / ton) but no transaction took place because the seller did not want to sell, market sources said.
Spot prices soared another Rs 500, to Rs 52,100 / quintal (US $ 8,680 / ton) for pint, and Rs 54,100 / quintal (US $ 9,013 / ton) for the selected type, thanks to strong demand. In the context of very tight supply.
Export price is at USD 9,000 / ton (c & f) to Europe and USD 9,250 / ton (c & f) to the US and the price is still higher than other origins.
Giatieu.com
Source Giacaphe.vn
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