Follow Businessline, the Kerala State Supreme Court allowing nearly 6,400 tons of pepper that has been held for more than 18 months due to the use of a preservative that is not allowed to be marketed soon, after having designated re-inspecting authorities, may be delayed. market up.
In addition, low-quality pepper from Sri Lanka was brought into India to produce powder pepper according to the cross-border trade policy between the two countries and international traders in Dubai offering Vietnamese pepper at less than US $ 10,000 per ton. contributing to pushing the market down.
At the beginning of this month, Indian pepper prices rebounded due to rising demand and tight supplies. The report said that the release of 6,400 tons of NCDEX pepper could be delayed, pushing the market up. Meanwhile, winter consumption in India has started to increase.
There is no seller of pepper in the high mountains for less than Rs 660 a kg, while pepper in Pulpally, Bathery in Wayanad district is offered by the seller at Rs 650 per kg, but the buyer wants the price at Rs 645 per kg.
On October 1, in the spot market, only 2 tons of pepper were delivered and sold.
On IPSTA, futures contracts were unchanged, October contract at Rs 70,198 / quintal (equivalent to 11,332 USD / ton) and November contract at Rs 70,460 / quintal (equivalent to 11,374 USD / ton).
Spot prices increased by Rs 300 to Rs 64,300 a quintal (equivalent to US $ 10,380 / ton) for all kinds of buckets and Rs 67,300 / quintal (equivalent to US $ 10,864 / ton) for the selected type.
Export prices also increased to 11,500 USD / ton (c & f) for goods to Europe and 11,750 USD / ton (c & f) for goods going to the US, still paying prices.
* (Exchange rate: 1 USD = Rs 61,9478)
Source Giacaphe.vn
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