Prices of Indian pepper on Tuesday, September 9, remained stable while activities were limited. At the same time, the state of Kerala is entering the Onam festival, the largest festival of the year.
In India's domestic market, demand continued to slow as buyers were waiting for further declines in prices.
They hope that when 6,000 tons of pepper were seized last year because of a FHS issue, it was approved for release after treatment, cleaning and inspection by designated laboratories under the direction of the Supreme Court. Kerala high state recently, prices will fall.
According to traders, the Onam festival, the largest festival in the state of Kerala lasted 10 days, will make domestic pepper prices weaken.
Meanwhile, a number of importers with permission to import pepper from Sri Lanka have reportedly blocked about 2,500 tons of pepper. The fixed ceiling for pepper imported from Sri Lanka under the current agreement is 2,500 tons. In addition, a large amount of low-quality, low-quality pepper imported through the quota from this island nation is mainly used to produce powder pepper.
Yesterday 9/9, in the spot market with 3 tons of pepper was traded at 685-690 rupees per kg.
The agents at the grassroots level did not see farmers selling pepper.
Spot prices remained stable at Rs 68,700 a quintal (US $ 11,371 per tonne) for pint and 71,700 a quintal (US $ 11,868 per ton) for selected grades.
Export price of India is at 12,100 USD / ton (c & f) for European delivery and 12,350 USD / ton (c & f) for shipment to the US.
Follow Business Line, international retailers based in Dubai and Singapore are also offering lower prices. While Dubai-based operators provided Vietnamese pepper at $ 9,800 / ton and Sri Lanka pepper at $ 9,800 – $ 9,950 / ton.
* (exchange rate: 1 USD = Rs 60,415)
Source Giacaphe.vn
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