After running out of inventory during this year's Diwali festival, Indian pepper prices returned to a hot rise as there was no inventory available, according to the news. Business Line.
Demand is still strong in the context of tight supply makes Indian pepper prices rise again. Spot products in major markets are almost depleted and none of the goods are being delivered to the futures market.
According to traders, the market is experiencing a supply crisis due to exhausted inventory during the last Diwali festival. They are expecting spot sources without seeing any traders appear to add pepper to the consumer market.
This phenomenon supports the current price trend and will likely continue for a long time until the new pepper comes to market in late December or early January.
Yesterday, Tuesday 4/11, pepper prices remained stable at high levels due to limited activities. Pepper in the High Mountains was priced at Rs 715 / kg while buyers were ready at Rs 710 / kg. Only 3 tons of pepper were brought to the market and were traded. Wayanad pepper was offered at Rs 705 a kg while buyers were offered at around Rs 695 – 700 a kg.
On the IPSTA Spices Association floor, all operating contracts remain unchanged. Specifically, the contracts for December, January and February were respectively Rs 64,665 / quintal, Rs 59,800 / quintal and Rs 60,026 / quintal (equivalent to USD 10,537 / ton, USD 9,745 / ton and USD 9,781 / ton).
On the spot, the price remained stable at Rs 68,500 per quintal (equivalent to US $ 11,162 per ton) for pepper and 71,500 Rs per quintal (US $ 11,651 per ton) for the pre-processed grade.
The export price of pepper increased to 12,300 USD / ton (c & f) for delivery to Europe and 12,550 USD / ton (c & f) for delivery in the US.
* According to the report of Agriculture and Rural Development, the export volume of pepper in October 2014 is estimated at 5 thousand tons, with a value of US $ 49 million, bringing the export volume of pepper in the first 10 months to 145 thousand tons at a price USD 1,106 billion, up 18.5% in volume and 35.4% in value over the same period in 2013. Average export price of the first 9 months of 2014 reached USD 7,558 / ton, up 13.82 % 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 9 months of 2014, accounting for 50.62% of total exports. pepper.
* (Exchange rate of 1 USD = Rs 61,3672)
Source English (Giacaphe.vn)
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