Export price of MG1 special pepper of India increased to a new historical high of 12,000 USD / ton (c & f) for Europe and 12,250 USD / ton (c & f) for the US.
Indian pepper prices in the spot market continued to set new highs due to strong demand amid tight supply. On the other hand, buyers on national and regional exchanges are willing to pay a higher price, although no sellers are found.
Industrialists, including those who have not previously covered the price, are running around to buy whatever is available at current prices. But no goods were delivered because they were not available and workers were on holiday, pepper growers said. Traders in Idukki claim that agents in Tamil Nadu district have bought from growers for Rs 675 a kg in cash and on-site delivery, market sources said. Business Line know.
Meanwhile, in the state of Karnataka is offering pepper at Rs 700 / kg and paid in cash but no one is willing to buy, after a sudden sales inspection by the tax authorities, trade sources said. . Farmers are hoping that pepper prices will reach Rs 1,000 per kg. According to trade, the lines of consumption in the domestic market are currently not available at all and therefore demand is expected to increase in the coming days.
Yesterday, Monday 21/4, national and regional exchanges reported no business activity even though someone was willing to buy at a higher price.
Spot prices have soared by Rs 4,500 to close at Rs 65,000 / quintal (USD 10,722 / ton) for pint and 67,000 Rs / quintal (USD 11,052 / ton) for the selected grade, the unprecedented historical high record. (1 USD = 60,6243 Rupees)
Export price of MG1 special pepper of India has risen to a new historical high of USD 12,000 / ton (c & f) for Europe and USD 12,250 / ton (c & f) for the US, due to an increase in prices along with the weakening Rupee. weak against the dollar.
Giatieu.com
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