(January 13) – The reason for the further drop in pepper prices is due to the release of large quantities of pepper held more than two years ago, according to market sources. Business Line.
Spot prices continued to decline as the report said a large amount of “poisoned” pepper after treatment was sold to the market, reducing supply pressure. Although new pepper has been harvested, farmers are not in a hurry to sell because the forecast shows that the new Indian pepper production has not met expectations, the domestic market is still tight on supply.
Yesterday, Tuesday, January 12, 700 tons of pepper held more than two years ago was released making spot prices and pepper futures prices fell slightly. The new deal in the High Mountains is claimed by traders at Rs 635 / kg while buyers are only willing at Rs 625 / kg.
In the futures market, 27 tonnes of pepper were delivered. Spot prices eased further by Rs 400 to Rs 62,600 a quintal (US $ 9,351 per tonne) for pail types and to Rs 65,600 a quintal (US $ 9,799 a tonne) for pre-processed grades.
On the IPSTA Spices Association Floor, the January contract fell by Rs 1,000, to close at Rs 66,000 / quintal ($ 9,859 / ton) while the February contract stood at Rs 60,500 / quintal ($ 9,037 USD). / ton) and March stood at Rs 58,000 / quintal (US $ 8,664 / ton), still unchanged.
Export price of Indian pepper is now at 10,250 USD / ton (c & f) for Europe and 10,500 USD / ton (c & f) for goods to the US, down 250 USD from the previous week.
* In the international markets, Vietnam has supplied V-Asta at 8,375 USD / ton; 550 Gr / l grade for USD 8,050 / ton and 500 Gr / l grade for USD 7,800 / ton. Indonesia has supplied L-Asta at 8,500 USD / ton, while Brazil said B-Asta type at 8375 USD / ton.
* Exchange rate: 1 USD = 66.9455 lakhs
Source English (giacaphe.vn)
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