(October 16) – According to Business Line, limited trade activity amid tight supply has pushed up pepper prices.
Local traders said that they bought high quality pepper for Rs 655/kg, while pepper in Pulpally and Bathery (Wayanad district) was bought at Rs 650/kg and pepper in Rajkumari (Idukki district) was bought for Rs 660. /kg but the volume is not much.
Last week, it was estimated that 100-200 tons of pepper allegedly contaminated with mineral oil were allowed to be released, causing a slowdown in domestic market demand. However, some commercial sources revealed that this pepper was not sent to factories in the country for recycling.
Traders are also speculating pepper prices will rise in November, December and January based on the report that India will have a new crop decrease and predict lower prices in February and March based on the report. Vietnam will have a new bumper crop.
Yesterday, Thursday, October 15, spot pepper prices increased by Rs 200 per quintal to Rs 64,000 per quintal (equivalent to $9,876 per ton) for bucket pepper and Rs 67,000 per quintal (equivalent to $10,339 per ton). for pre-processed pepper.
On the IPSTA Spices Association Exchange, the October contract remained at Rs 67,500 per quintal (equivalent to $10,417 per metric ton), while the November and December contracts rose Rs 1,000 to Rs 67,000 per quintal. and Rs 65,000/quintal (equivalent to USD 10,339/ton and USD 10,031/ton).
Sri Lankan black pepper 500 Gr/l is sold for 9,000 USD/ton delivered at Kochi market.
Indian pepper export special grade MG1 is sold at 10,600 USD/ton (c&f) for European delivery and 10,850 USD/ton (c&f) in the US, up 250 USD compared to the beginning of the month.
*According to the report of the General Department of Vietnam Customs, exports in September 2015 reached 7,496 tons of pepper of all kinds, with a turnover of USD 135.48 million, an increase of 8.2% in volume and 9.9% increase. in value compared to the previous month but decreased by 20.5% in volume and 0.4% in value over the same period last year. The average export price of pepper in the period reached 10,194 USD/ton, up 1.51% compared to the average export price of August 2015.
*Exchange rate: 1 USD = 64,8005 Rupees
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