(March 16) – The domestic pepper market shows an easier supply trend as the selling power from farms remains steady. Karnataka pepper is supplied locally at Rs 625/kg and delivered anywhere in India for Rs 650/kg, according to market sources on Business Line.
While Kerala Pepper has been sold by farmers and dealers at the facility for Rs 635/kg for high quality.
Although yesterday, Tuesday, March 15, in the futures market only 12 tons of pepper was delivered and traded at Rs 625-635/kg depending on the quality and growing area. Domestic market traders and federal agents bought while exporters with companies doing business in the producing countries only bought at less than Rs 5 per kg.
Spot prices remained unchanged at Rs 61,800/quintal ($9,182/ton) for bucket pepper and Rs 64,800/quintal ($9,628/ton) for pre-processed pepper.
On the IPSTA Spices Association, the March contract ended in futures trading and closed at Rs 64,000 per quintal (equivalent to $9,509 per ton), up Rs 3,500 per quintal compared to the beginning of the month. while the April contract remained unchanged at Rs 63,500 per quintal (equivalent to $9,435 per ton).
The export price of Indian pepper, MG1 special grade is $9,675/ton (c&f) for European delivery and $9,925/ton (c&f) for the US, an increase of $200 compared to the beginning of the month, mainly due to the VND exchange rate. Rupees rose sharply again.
Reports from abroad also said that Vietnamese pepper is now easier to buy because the leading pepper producing country’s farmers are harvesting a new crop with an estimate of 135,000 – 140,000 tons, slightly higher than the previous crop. little.
*According to the report of the General Department of Vietnam Customs, exports in February 2016 reached 10,304 tons of pepper of all kinds, with a turnover of 87.59 million USD, up 9.5% in volume and 2.0 % in volume. in value compared to the previous month but decreased by 8.7% in volume and 12.2% in value over the same period last year. The average export price of pepper in the period reached USD 8,500/ton, down 6.79% compared to the average export price of January 2016.
* Exchange rate: 1 USD = 67.3040 Rupees
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