(02/2) – Pepper is now starting to be easy to buy due to new sales pressure while some key growing areas in Kerala have not yet been harvested, according to market sources. Business Line.
Yesterday, Monday 01/2, trading on both futures market and spot market showed that the trend continues to decline mainly.
Reports indicate that there are many sellers of pepper growing in the High Mountains, while it is also easy for exporters to buy Malabar pepper for delivery to foreign buyers.
Harvest of this year's pepper crop in Wayanad district of Kerala state is expected to begin picking this month while Karnataka pepper growing areas are likely to be plucked early in the next few weeks.
While the amount of contaminated mineral oil allowed to be issued is also now available in the market … These factors have supported pepper prices to continue the downward trend.
On the futures market, there are 52 tonnes, mainly High Range pepper, traded at Rs 605 – 615 Rs. Spot prices eased further by Rs 500 to Rs 60,700 / quintal (US $ 8,959 / ton) for the pint and Rs 63,700 (US $ 9,401 / ton) for the pre-processed grade.
On the IPSTA Spices Association Floor, February and March contracts fell by Rs 1,000, to Rs 62,000 / quintal (approximately US $ 9,150 / ton) and Rs 60,500 / quintal (US $ 8,929 / ton) respectively.
Export price of Indian pepper, grade MG1, was priced at 9,500 USD / ton (c & f) for delivery in Europe and 9,750 USD / ton (c & f) for delivery in the US, plummeting to 900 – 1,000 USD compared to the beginning of last month, which is also due to the exchange rate of Rupee / USD.
The report from abroad said that Vietnamese pepper of the new crop of 500 Gr / l-FAQ was offered at US $ 7,700 – US $ 7,750 per ton, while farmers of the world's No. 1 pepper growing and exporting country would step up. harvest the new crop right after the Lunar New Year holiday in the traditional year.
* According to the report of Vietnam Agriculture and Rural Development, export volume of pepper in January 2016 was estimated at 7 thousand tons, with a value of US $ 67 million, down 30.2% in volume and down 31.5% in volume. value compared to the same period of 2015. Pepper exports in 2015 reached 133 thousand tons with a value of 1.26 billion USD, down 14.4% in volume but up 5% in value compared to 2014. Pepper prices The average export in 2015 reached 9,507 USD / ton, up 22.7% compared to 2014. The largest pepper export markets of Vietnam in 2015 were the United States, the United Arab Emirates and Singapore. with 35.2% market share. The markets with strong growth values are Germany (36.7%), Spain (33.9%), South Korea (28.3%) and the UK (26.7%).
* Exchange rate: 1 USD = 67.7562 Rupees
Source English (giacaphe.vn)
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