The demand of domestic markets continued to increase sharply in the context of tight supply, which pushed the spot price in India to a new high.
Traders in the Indian domestic market are actively buying pepper from Karnataka and that has continued to push the price of raw material at the farm to a new high of Rs 590 – Rs 595 per kg for a weight of 500 Gr / l.
Exporters based in Vietnam are also very dynamic. They rely on the defect of the import-export policy to buy farm-grade pepper and deliver it to establishments in Vietnam to process and export from there, market sources said. Business Line.
Industry is also speeding up procurement in Kerala state due to the summer rains but pepper prices here are higher than Karnataka pepper prices, even some transactions are thought to be around Rs 600 a kg.
While pepper in the High Range in Kerala was offered at Rs 610 a kg and buyers only paid Rs 600 a kg, pre-processed Karnataka pepper was offered at Rs 585 a kg, traders said.
Yesterday, Tuesday, April 28, spot prices increased by Rs 500 to Rs 58,500 a quintal (US $ 9,239 per tonne) for pail and 61,500 Rs / quintal (US $ 9,712 per tonne). ) for semi-processed pepper.
On the IPSTA Spices Association Floor, futures contracts were slightly adjusted. Contracts in May and June of July were respectively Rs 61,000 / quintal, Rs 60,980 / quintal and Rs 60,990 / quintal (equivalent to USD 9,633 / ton, USD 9,630 / ton and USD 9,632 / ton).
Export prices of Indian pepper were at US $ 10,000 / ton (c & f) for Europe and US $ 10,250 / ton for US shipments, unchanged from last week.
The weak exchange rate of Rupee against USD makes Indian pepper become more competitive than pepper price originating from Vietnam.
* According to the monthly report of Agriculture and Rural Development of Vietnam, the export volume of pepper in April 2015 was estimated at 16 thousand tons, with a value of 152 million USD, bringing the pepper export volume in the first 4 months of 2015 to 56 thousand tons with a value of 513 million USD, down 25% in volume but up 0.5% in value. Average export price of pepper in the first 3 months of 2015 reached 9,134 USD / ton, up 34.6% over the same period in 2014. Export of pepper to the US, Singapore and India markets – the three largest markets of Vietnam Men in the first 3 months of 2015 accounted for 44.28% market share.
* Exchange rate 1 USD = 63.32 Rupee
Source English (giacaphe.vn)
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