(April 5) – Spot pepper prices increased continuously due to good demand in the context of continued tight supply. Federal agents and consumers have appeared on the market to ramp up purchases, trade sources said. Business Line.
Yesterday, Monday, April 4, on the futures market, 16 tons of pepper were traded. The price of pepper in the Rajkumari region (Idukki district, Kerala) was sold at Rs 685/kg, while pepper in the High Mountains was traded at Rs 680/kg. Meanwhile, 7-8 tons of pepper after treatment is allowed to be released and traded at Rs 665/kg.
Pepper prices in the domestic market of India increased continuously as growers did not want to sell in the hope that prices would still increase because of the ongoing drought across the main pepper growing regions. The continuous increase in pepper prices is also due to the strong increase in the Rupee exchange rate in recent days, which will pave the way for the import of Vietnamese pepper through Sri Lanka, market sources revealed.
Traders also believe that the wide gap between Indian pepper prices and those of other origins has become a factor promoting pepper imports.
Spot pepper prices increased by Rs 200 to Rs 65,300 per quintal (equivalent to $9,832 per tonne) for bucket pepper and Rs 68,300 per quintal (equivalent to $10,283 per ton) for pre-processed pepper.
On the IPSTA Spices Association Floor, the April, May and June contracts remained unchanged, at Rs 68,000/quintal, Rs 67,000/quintal and Rs 66,000/quintal ($10,238/ton, $10,087/kg, respectively). tons and $9,937/ton).
Export price of MG1 special pepper is at 10,600 USD/ton (c&f) to Europe and 10,850 USD/ton (c&f) to the US, up 350 USD from last week.
* According to a report of Vietnam’s Agriculture and Rural Development sector, the export volume of pepper in March 2016 is estimated at 21 thousand tons, with a value of 171 million USD, bringing the export volume of pepper in the first 3 months of 2016 to 41 thousand tons with 349 million USD, up 7% in volume but down 1.1% in value over the same period in 2015. The average export price of pepper in the first 2 months of 2016 reached 8,878.86 USD/ton, down 3.8% compared to the same period last year. the same period of 2015. The largest pepper export markets of Vietnam in the first 2 months of 2016 are the United States, India, the United Arab Emirates and the Netherlands with 47.31% market share. The markets with a strong increase in export value are Pakistan (up nearly 4 times), Egypt (64.65%) and South Korea (25.69%).
* Exchange rate: 1 USD = 66.4189 Rupees
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