According to the news of Business LineAlthough the tightening of supply continues to put pressure on the market, Indian pepper prices, both spot and fob prices, remained stable at high levels.
There is no selling pressure in pepper growing areas in the High Mountains of Karnataka state.
Pepper of the Pulpally and Bathery regions (Wayanad district, Kerala state) was traded at Rs 590 – 595 kg / kg. While unprocessed pepper is at Rs 575 – 585 / kg.
It seems that the market feels a tightening in supply due to the rain and direct purchases by leading exporters, according to trade sources.
On Wednesday 13/5, on the futures market, 26 tons of pepper were delivered and traded. Spot prices remained unchanged at Rs 57,500 / quintal (US $ 8,966 / ton) for the pistachio and Rs 60,500 / quintal (US $ 9,434 / ton) for the pre-processed grade.
The high humidity caused by rains has increased processing costs, which is said to be the reason for keeping spot prices stable.
On the IPSTA Spices Association Floor, May and June contracts simultaneously increased by Rs 500, to Rs 62,000 / quintal ($ 9,668 / ton) and Rs 61,990 / quintal (equivalent to $ 9,666 / ton).
Export prices of Indian pepper increased slightly to US $ 9,850 / ton (c & f) for European deliveries and US $ 10,100 / ton (c & f) for US shipments.
A group of pepper-processing exporters has alleged that the new export reward policy of the Indian Foreign Trade Industry, which is about to be announced, will only benefit their pepper processing companies in Vietnam and exports go from there. While companies carry out pepper processing in India due to respect for the slogan “Do it in India” of the Prime Minister and then export will be disadvantaged.
* According to the preliminary report data of the General Department of Vietnam Customs, exports in April 2015 reached 16,447 tons of pepper of all kinds, with a turnover of 153,111 million USD, down 3.9% in volume and zero, 9% in value compared to the previous month and down 24.8% in volume but increased by 0.5% in value over the same period last year. The average export price in the period reached 9,309 USD / ton, up 3.12% compared to the average export price of March 2015.
* Exchange rate of 1 USD = 64.13.13 rupees
Source English (Giacaphe.vn)
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