(October 16) – According to Business Line, limited trade in the context of tight supply has pushed up the price of pepper.
Local traders reported buying high quality pepper at Rs 655 a kg, while Pulpally and Bathery (Wayanad district) were priced at Rs 650 a kg and pepper at Rajkumari (Idukki district) was bought at Rs 660. / kg but not much weight.
Last week, an estimated 100-200 tons of pepper allegedly contaminated with mineral oil were issued, causing domestic demand to slow down. However, some commercial sources revealed that the pepper was not sent to factories in the country for recycling.
Traders also speculate that pepper prices will increase in November, December and January based on reports that India will have a new crop and forecast lower prices in February and March based on the report. Vietnam will have a new bumper crop.
Yesterday, Thursday, October 15, spot prices increased by Rs 200 to Rs 64,000 / quintal (US $ 9,876 / ton) for shovel and Rs 67,000 / quintal (US $ 10,339 / ton). for pre-processed pepper.
On the IPSTA Spices Association's Floor, October contracts remained at Rs 67,500 a quintal ($ 10,417 per tonne), while November and December contracts increased by Rs 1,000 to Rs 67,000 a quintal. and 65,000 Rup / quintal (equivalent to 10,339 USD / ton and 10,031 USD / ton).
Sri Lanka black pepper grade 500 Gr / l is sold at USD 9,000 / ton delivered in Kochi market.
Indian pepper export of special grade MG1 was sold at US $ 10,600 / ton (c & f) for delivery to Europe and US $ 10,850 / ton (c & f) in the US, an increase of US $ 250 compared to the beginning of the month.
* According to a report of the General Department of Vietnam Customs, the export in September 2015 reached 7,496 tons of pepper of all kinds, with a value of US $ 135.48 million, up 8.2% in volume and up 9.9% in volume. in value compared to the previous month but down 20.5% in volume and down 0.4% in value over the same period last year. The average export price during the period reached US $ 10,194 / ton, up 1.51% compared to the average export price of August 2015.
* Exchange rate: 1 USD = 64.8005 Rupees
Source English (giacaphe.vn)
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