(May 18) – Spot pepper prices continued to increase slightly as farmers continued to slow down sales. Trade activities are still limited due to waiting for import supply from Vietnam and Sri Lanka, according to market sources. Business Line.
Grassroots agents and federal trading companies continue to search for supplies at the farm gates, but the selling price between the two sides has not yet met. Therefore, export trading companies are waiting for the supply of pepper from Vietnam and Sri Lanka according to the contract signed in March and April. Then the importers have 120 days to add value added and re-export this shipment of imported materials. However, there have been allegations that they may have allowed this shipment to smuggle into the domestic market.
Price of pepper in Rajkumari area (in Idukki district) was traded at Rs 715/kg and pepper in Wayanad district, Kerala state was traded at Rs 710/kg but it was still difficult to buy. Pepper farmers believe that the supply will be tight in the future because drought is occurring on a large scale in the main pepper growing countries, threatening the yield and output of the next crop.
Yesterday, Tuesday, May 17, on the futures market, only 23 tons of pepper were delivered and traded at Rs 695-708/kg.
Spot pepper prices increased by Rs 100 per quintal to Rs 69,700 per quintal for bucket pepper (US$10,446 per ton) and Rs 72,700 per quintal for preprocessed pepper (equivalent to US$10,896), an increase of Rs 1,700 per metric ton. compared with the previous month.
On the IPSTA Spices Association, the June, July and August futures contracts remained stable at Rs 71,000/quintal (equivalent to USD 10,641/ton) and Rs 70,000/quintal (equivalent to USD 10,491/ton), respectively. ), and Rs 69,000/quintal (equivalent to USD 10,341/ton).
The price of Indian special pepper MG1 for export stood at $11,000/ton (c&f) for European deliveries and $11,250/ton (c&f) for shipments to the US, an increase of $100 over the previous month.
*According to the report of the General Department of Vietnam Customs, exports in April 2016 reached 24,336 tons of pepper of all kinds, with a turnover of 186.42 million USD, up 0.8% in volume and down 2.9%. in value compared to the previous month but increased by 25.0% in volume and 10.2% in value over the same period last year. The average export price of pepper in the month reached 7,660 USD/ton, down 3.55% compared to the average export price of March 2016. Accumulated in the first 4 months of 2016, Vietnam exported 68,556 tons of pepper of all kinds, with a total export value of 556 million USD.
*Exchange rate: 1 USD = 66.7234 Rupees
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