Indian pepper prices tContinuing to increase rapidly, continuously breaking records every day in the spot market and the futures market.
The export price of pepper has reached 10,000 USD / ton according to the current trend, market sources said.
Expressing concern about the risk of “import of blemish pepper from neighboring countries and other origins in Southeast Asia”, they said that imports could occur because they only had to pay taxes 60 % by invoice.
In addition, there are allegations that pepper currently being imported duty-free so that the processing industry can add value and re-export can be smuggled into the domestic market due to the high domestic price and because of the jumble of added value and re-export issues.
The International Pepper Association (IPC) in its recent Annual Meeting report suggested that India would harvest 45,000 tons this year, but Indian traders said it would only reach 35,000 tons, while the major The facility manager said that even less than 30,000 tons due to unfavorable weather.
With the current tight supply situation, trade sees this as the most suitable time for the Spice Council and FSSAI officials to take steps to erase the estimated 6,000 tons of pepper being held at the warehouse.
No deliveries were made and no transactions were made for Friday, April 4, for those who want to sell.
On NMCE, April and May futures contracts increased by Rs 1,712 and VND 840 to Rs 58,774 / quintal and Rs 57,208 / quintal (equivalent to USD 9,776 / ton and USD 9,516 / ton). (1 USD = 60.1182 Rupees)
On the IPSTA, all active contracts upon closing closed an increase of Rs 1,000 a quintal from the previous day's closing price.
Very strong demand indicates that the Rajkumari pepper (Idukki district) of high density is now traded at Rs 600 a kg.
Spot prices soared to Rs 1,500 further, breaking the previous day's record to reach Rs 55,000 / quintal (US $ 9,149 / tonne) for shovel and 57,000 Rs / quintal (US $ 9,481 / tonne) for delivery. The type of options and the promise of asthma may increase even more.
Export price of Indian MG1 pepper increased to US $ 9,750 / ton (c & f) to Europe and USD 10,000 / ton (c & f) to the US.
Giatieu.com
Source Giacaphe.vn
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