Yesterday Monday (January 12), Indian pepper prices continued to decline due to new season sales pressure, which is currently harvested late due to prolonged rains on key pepper growing areas.
>> Indian pepper market: Pepper prices fell under new crop selling pressure
Traders in the domestic market continue to bring goods from the growing areas to the main markets. However, traders said the shipments from the southern districts were of relatively low quality, some with humidity up to 25% and were being traded at Rs 550 / kg.
There were 28 tons of new pepper delivered and 27 tons were traded at Rs 650-675 / kg. While the old standard of low weight has been provided by traders for Rs 690 / kg.
On the IPSTA Spices Association, January futures contracts increased by Rs 1,000 to Rs 66,964 / quintal (USD 10,765 / ton), while other futures remained stable.
Spot prices continued to fall by Rs 500, to Rs 66,500 a quintal (US $ 10,691 / ton) for the bucket grade and to Rs 69,500 / quintal (US $ 11,173 / ton) for the pre-processed grade.
Export price of Indian pepper is now at 11,700 USD / ton for fast delivery and at 10,700 USD / ton
for February delivery and 9,800 USD / ton for March delivery.
Vietnam is said to have supplied black pepper of 500 Gr / l-FAQ for USD 8,500 / ton.
* According to the report of Agriculture and Rural Development of Vietnam, the export volume of pepper in December 2014 is estimated at 8 thousand tons, with a value of US $ 52 million, bringing the export volume of pepper in 2014 to 158 thousand tons at a price USD 1.2 billion, up 19.3% in volume and 35.9% in value compared to 2013. Average export price of the first 11 months of 2014 reached US $ 7,679 / ton, up 14.76 % compared to the same period in 2013. The United States, Singapore, United Arab Emirates, India and the Netherlands are the five largest markets of Vietnam in the first 11 months of 2014, accounting for 50.06% of total exports. this product.
* (Exchange rate of 1 USD = Rs 62.2036)
Source English (giacaphe.vn)
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