Indian pepper price tcontinued to increase hotly, continuously breaking records every day in both the spot market and the futures market.
Export prices of pepper have touched $10,000 per tonne on current trends, market sources said.
Expressing concern about the risk of “indiscriminate imports of pepper from neighboring countries and other sources in Southeast Asia”, they said that imports could occur because only 60 taxes were payable. % by invoice.
In addition, it is alleged that pepper, which is currently imported duty-free for the processing industry to add added value and re-export, may also be smuggled into the domestic market because the domestic price is currently very high and because of the pre-existing mess of value-added and re-exports.
The International Pepper Association (IPC) in a report at its Annual Meeting recently said that India will harvest 45,000 tons this year, but Indian traders think it will only reach 35,000 tons, while the representatives Managers at the facility claim that even less than 30,000 tons are due to unfavorable weather problems.
Given the current tight supply situation, the trade considers this the most opportune time for the Spices Council and FSSAI officials to begin taking steps to clear the estimated 6,000 tonnes of pepper being held at various locations. warehouse.
There were no deliveries and no transactions on Friday, April 4, for those wanting to sell.
On the NMCE, April and May futures contracts increased by Rs 1,712 and Rs 840 to Rs 58,774 per quintal and Rs 57,208 per quintal (equivalent to $9,776/ton and $9,516/ton). ( 1 USD = 60,1182 Rupees )
On the IPSTA floor, all active contracts at the close were up Rs 1,000/quintal from the previous day’s closing price.
Very strong demand shows that currently Rajkumari pepper (Idukki district) with high weight has been traded at Rs 600/kg.
Spot prices spiked further to Rs 1,500, breaking the previous day’s record to reach Rs 55,000 per quintal ($9,149 per ton) for bucket pepper and Rs 57,000 per quintal ($9,481 per ton) for pepper. The selected and promising criteria for asthma are likely to increase further.
The price of MG1 special pepper from India for export has increased to over $9,750/ton (c&f) to Europe and $10,000/ton (c&f) to the US.
Giatieu.com
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