Demand for spot pepper was still rising amid tight supplies, which pushed up Indian export prices, market sources said. Business Line.
The price of pepper increased sharply due to an increase in buying from exporters. But the supply of high-density pepper has been tightened, which has pushed up the price of pepper over the past few days.
Export companies have asked their suppliers to increase sourcing while activities are mostly limited. Primary market dealers of all pepper growing districts in the state of Kerala have supplied 550 gr / l pepper exporters at Rs 650 a kg, while pepper in the High Mountains is being traded by traders. offering at Rs 655 a kg.
Yesterday, Thursday 2/7, only 9 tons of pepper were traded. Although spot prices remained stable at Rs 63,500 a quintal (US $ 10,008 per ton) for pint and 66,500 Rs per quintal (US $ 10,481 per ton) for processed pepper.
Active Futures Contracts on the IPSTA Spices Association Floor previously increased by Rs 500. July contract to Rs 67,505 / quintal (USD 10,639 / ton), August contract to Rs 68,006 / quintal (equivalent to USD 10,718 / ton) and September contract to Rs 68,505 / quintal (similar equivalent to USD 10,797 / ton).
Export prices of Indian specialty pepper were now at US $ 10,950 per tonne (c & f) for European deliveries and US $ 11,200 per tonne for US delivery, an increase of US $ 250 per tonne from the previous week.
On the international market, Vietnam is reported to be slowing sales. While US buyers are on standby and keep track of new crop sales predictions from Indonesia after the upcoming Ramadan holidays.
* According to the report of Agriculture and Rural Development in Vietnam, the export volume of pepper in June 2015 was estimated at 16 thousand tons, with a value of 157 million USD, bringing the export volume of pepper in the first 6 months of 2015 to 90 thousand tons. tons with a value of 838 million USD, down 18.2% in volume but up 6.1% in value. The average export price of pepper in the first 5 months of 2015 reached US $ 9,223 / ton, up 31.87% over the same period in 2014. Export of pepper to the US, Singapore and the United Arab Emirates – 3 markets Vietnam's largest market in the first 5 months of 2015 accounted for 40.41% of market share.
* Exchange rate: 1 USD = 63,4506 Rupees
Source English (Giacaphe.vn)
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