(April 5) – Spot price of pepper increased continuously due to good demand amid tight supply. Federal agents and consumers have appeared in the market to boost purchases, trade sources said. Business Line.
Yesterday, Monday 04/4, on the futures market there were 16 tons of pepper were traded. The price of Rajkumari pepper (Idukki district, Kerala) was sold at Rs 685 / kg, while pepper in the High Mountains was traded at Rs 680 / kg. Meanwhile, 7 – 8 tons of pepper after processing are allowed to issue and trade at Rs 665 / kg.
Pepper prices in the Indian domestic market increased continuously because growers did not want to sell in the hope that prices would increase because of the drought that is occurring throughout the main pepper growing areas. The price of pepper increased continuously thanks to the strong increase of Rupee in recent days, which will pave the way for the import of Vietnamese pepper via Sri Lanka alley, market sources said.
Traders also believe that the widening gap between Indian pepper prices and prices of pepper from other origins has become a factor promoting pepper imports.
Spot prices increased by Rs 200 to Rs 65,300 a quintal (US $ 9,832 per tonne) for pail and to Rs 68,300 a quintal (US $ 10,283 per ton) for semi-processed pepper.
On the IPSTA Spices Association Floor, the contracts for April, May and June remain unchanged, respectively at Rs 68,000 / quintal, Rs 67,000 / quintal and Rs 66,000 / quintal (respectively USD 10,238 / ton, USD 10,087 / tons and 9,937 USD / ton).
Export price of MG1 special pepper is now at 10,600 USD / ton (c & f) for Europe and 10,850 USD / ton (c & f) to the US, up 350 USD from the previous week.
* According to the report of Vietnam's Agriculture and Rural Development sector, the export volume of pepper in March 2016 was estimated at 21 thousand tons, with a value of US $ 171 million, bringing the export volume of pepper in the first 3 months of 2016 to 41 thousand tons with 349 tons. USD million, up 7% in volume but down 1.1% in value over the same period in 2015. Average export price of the first 2 months of 2016 reached US $ 8,878.86 / ton, down 3.8% compared to the same period. with the same period of 2015. The largest pepper export markets of Vietnam in the first 2 months of 2016 were the United States, India, the United Arab Emirates and the Netherlands with 47.31% market share. The markets with strong export value increase are Pakistan (nearly quadrupled), Egypt (64.65%) and South Korea (25.69%).
* Exchange rate: USD 1 = Rs 66,4189
Source English (giacaphe.vn)
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