Historical chart of ASTA pepper prices in New York.
(February 25) – New season sales pressure continues to pull down both spot and futures prices despite the limited supply in the Indian domestic market, according to market sources. Business Line.
Long-term traders said that at the beginning of the week, Rajkumari pepper was traded at Rs 647 / kg and that pepper from Pulpally in Wayanad district of Kerala state was priced at Rs 635 / kg. While pepper grade 500 Gr / l from the districts Kollam and Thiruvananthapuram south of Kerala traded at an average of Rs 575 / kg and high-quality pepper was trading at Rs 640 / kg.
Domestic demand also slowed as stock exchanges were allowed to continue to issue the contaminated pepper which had to be reprocessed. The buyers have blended it with the new pepper and launched it for Rs 650 a kg.
Pepper prices decreased further due to selling pressure. Processing plants, federal agents, and exporters bought in. Meanwhile, Vietnamese exporters have also been supplied with enough goods for the March delivery contract to improve the density of Vietnamese pepper.
Yesterday, Wednesday 24/2, on the futures market there were 52 tons of pepper was traded at 635 – 640 Rs. While spot prices dropped further by Rs 300, to Rs 62,200 / quintal (US $ 9,069 / ton) for shovel and 65,200 Rs / quintal (US $ 9,506 / ton) for semi-processed pepper. .
On the IPSTA Spices Association's Floor, the March contract also dropped Rs 500 to Rs 64,500 a quintal (approximately $ 9404 per ton).
The price of Indian pepper exported at 9,675 USD / ton (c & f) delivered to Europe and 9,925 USD / ton (c & f) delivered in the US, decreased slightly by 25 USD.
* According to a report of the General Department of Vietnam Customs, exports in the first half of February 2016 reached 3,159 tons of pepper of all kinds, with a turnover of $ 27.65 million, down 67.16% in volume and down 68, 11% in value compared to the same period last year. The average export price in the period reached 8,753 USD / ton, down 4.01% compared to the average export price of January 2016.
* Exchange rate: 1 USD = 68.5887 Rupees
Source English (giacaphe.vn)
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