Yesterday (January 12), Indian pepper prices continued to decline due to sales pressure of the new crop, which is still harvested late due to prolonged rains on key pepper growing regions.
>> Indian pepper market: Pepper prices fell due to sales pressure of the new crop
Traders in the domestic market continue to bring goods from the growing areas to the main markets. However, traders said that the consignments coming from the southern districts were of rather low quality, some with humidity up to 25% and were traded for Rs 550/kg.
There were 28 tons of new season pepper delivered and 27 tons were traded at Rs 650-675/kg. While the old crop with low weight was offered by traders at Rs 690/kg.
On the IPSTA Spices Association, the January futures contract increased by Rs 1,000 to Rs 66,964 per quintal (equivalent to $ 10,765), while other futures contracts remained stable.
Spot pepper price continued to decrease by Rs 500, to Rs 66,500/quintal (equivalent to USD 10,691/ton) for bucket pepper and Rs 69,500/quintal (equivalent to USD 11,173/ton) for pre-processed pepper.
Indian pepper export price is at $11,700/ton for fast delivery and at $10,700/ton
for February delivery and $9,800/ton for March delivery.
Vietnam is said to have supplied 500 Gr/l-FAQ black pepper at $8,500/ton.
* According to a report of Vietnam’s Agriculture and Rural Development sector, the export volume of pepper in December 2014 is estimated at 8 thousand tons, with a value of 52 million USD, bringing the export volume of pepper in 2014 to 158 thousand tons at a price value of 1.2 billion USD, up 19.3% in volume and 35.9% in value compared to 2013. The average export price of pepper in the first 11 months of 2014 reached 7,679 USD/ton, up 14.76 % over the same period in 2013. The United States, Singapore, the United Arab Emirates, India and the Netherlands were the five largest markets of Vietnam in the first 11 months of 2014, accounting for 50.06% of total exports. this product.
*(Exchange rate 1 USD = 62.2036 Rupees)
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