(October 19) – Although supply and demand are temporarily stable, domestic pepper prices are still high as a strong rupee has boosted imports, according to market sources on the market. Business Line.
Pepper imported through Sri Lanka lanes sold at cheap prices is said to flood the Indian market. However, farmers in the main pepper growing states in the south are not in a hurry to sell their products because they think their pepper quality is always high. In addition, the Association of Agricultural Products in the main pepper growing states has proposed that the Government impose import tax with a minimum price, or they will switch crops because of the current investment cost of pepper production. was too high.
Pepper from Pulpally and Bathery in Wayanad–Kerala district is traded at Rs 435/kg, while long distance traders order pepper in the High Mountains in Kerala for Rs 445-450/kg but growers do not want to sell.
Imported pepper with high weight is offered for sale at Rs 415 – 420/kg, delivered at the port’s transshipment warehouse.
On Wednesday, October 18, spot pepper prices remained stable at Rs 43,200 per quintal (equivalent to $6,640 per ton) for bucket pepper and Rs 45,200 per quintal (equivalent to $6,947 per ton) for dried pepper. preliminary treatment.
On the NCDEX, pepper futures for November delivery fell Rs 275 per quintal to Rs 43,325 per quintal (equivalent to $6,659 per ton) and December delivery fell Rs 10 to Rs 45,910 per quintal (equivalent to $7,056 per tonne) ), is expected to decrease further when the market enters this year’s Diwali festival.
India’s export price of special pepper MG1 for export is at $7,255/ton (c&f) for European goods and at $7,775/ton (c&f) for goods to the US, an increase of $525 compared to the beginning of the month. The export price of Indian pepper is now beneficial due to the strengthening of the Rupee exchange rate against the USD
In the international market, the price of black pepper offered for sale is Lampung – Asta at $4,850/ton, Vietnam – Asta at $4,375/ton and Brazil – Asta with the most competitive price at $4,200/ton.
*According to the report of the General Department of Vietnam Customs, exports in the first half of October 2017 reached 5,274 tons of pepper of all kinds, with a turnover of 24.48 million USD, up 21.62% in volume but down 20 %, 24% in value over the same period last year. The average export price of pepper in the period reached 4,641 USD/ton, down 3.41% compared to the average export price of the previous month.
*Exchange rate: 1 USD = 65,0647 Rupees.
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