Indian pepper production is presented at the World Spices Congress.
Pepper production in India is estimated to be much lower than what was reported at the International Pepper Association Annual Meeting (IPC) recently and according to forecasts made. at the Seasoning World Congress.
According to a multinational export company in India, which has a processing base in Vietnam, India's pepper output this year is estimated at only 35,000 tons compared to 45,000 tons of IPC expected at the meeting. at the end of last year. Similarly, Vietnam's output this year is estimated at 135,000 tons compared to the IPC's estimate of about 100,000 tons.
Meanwhile, Indian farmers and local market agents in Kerala and Karnataka states that due to unfavorable weather conditions, India's production is even below 35,000 tons.
These forecasts will be reflected in the market in the coming days. Pepper prices in Vietnam have been reported unchanged, although yesterday the companies had difficulties so they had to buy higher than VND 500,000 / ton but today it was easier to buy.
Prices in India remained higher and relatively stable on Wednesday with a slight decline in fast delivery. Because buyers in northern India were accused of only paying attention to cash and fulfilling their delivery orders from major markets directly by rail, tax evasion was rampant.
As a result, the number of customers in the futures market dropped sharply. Compared to about 100 tons at this time of the previous crop, only 35 tons of farm grade pepper was traded at Rs 500-515 / kg depending on quality and planting region.
On NMCE yesterday 19/2, the contract in March decreased 40 rupees, with the final trading price (LTP) at Rs 52,100 / quintal, while the April contract decreased by Rs 330 and ended (LTP) at Rs 52,570 / quintal. (equivalent to USD 8,369 / ton and USD 8,444 / ton) (1 USD = Rs 62,254)
Trading volume decreased by 3 tonnes to 5 tonnes while open interest remained unchanged at 22 tonnes. Spot prices remained stable in line with demand and supply at Rs 50,000 / quintal (US $ 8,032 / ton) for pintle and Rs 52,000 / quintal (US $ 8,353 / ton) for the selected type.
Export prices of Indian specialty pepper were at 8,500 USD / ton (c & f) in Europe and 8,750 USD / ton (c & f) in the United States.
Source Giacaphe.vn
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