Follow Business Line, limited supply due to this year's crop is not as expected to keep domestic pepper prices at a high level, while major pepper states are still harvesting.
It is expected that new supply of Wayanad pepper from Kerala state and Coorg pepper of Karnataka state will be launched at the end of the month. However, the increase is somewhat limited due to a volume of pepper “Mineral oil poisoning” be held in the Stock Exchange for authorized release after processing.
However, pepper growers were not willing to sell for less than Rs 630 / kg.
Yesterday, on February 15, spot prices increased by Rs 500 to Rs 61,500 a quintal (US $ 9,004 per tonne) for pail and 64,500 Rs per quintal (US $ 9,443 per tonne). semi-processed pepper.
On the IPSTA Spices Association's Floor, the February contract remained at Rs 64,000 / quintal (approximately $ 9,370 / ton) while the March contract increased by Rs 1,000 to Rs 63,500 / quintal (approximately $ 9,297 / ton).
Export price of MG1 special pepper was priced at USD 9,700 / tonne (c & f) for delivery in Europe and USD 9,950 / tonne for shipments to the US, up USD 200 compared to the beginning of the month.
Vietnamese pepper will be harvested shortly after the Tet holiday according to the traditional lunar calendar and the new crop is expected to be launched in early March.
* According to the report of Vietnam General Department of Customs, exports in January 2016 reached 9,414 tons of pepper of all kinds, with a turnover of 85.85 million USD, up 24.5% in volume and up 18.6% in value compared to the previous month but down 8.4% in volume and down 11.9% in value over the same period last year. The average export price in the period reached 9,120 USD / ton, down 4.73% compared to the average export price of December 2015.
* Exchange rate: 1 USD = 68.3042 Rupees
Source English (giacaphe.vn)
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