Pepper prices continued to decline due to sales pressure of the new crop while export prices were still higher than other producing countries, according to information from Business Line.
The new crop has now been harvested in the districts of Kottayam, Pathanamthitta, Kollam and the High Mountains in Kerala state, local dealers said. Spot goods are also quite easy at Rs 630-640/kg.
The reason for the decrease in pepper price is because it is mixed with new season pepper with high moisture content, while the supply of high-quality pepper is still limited, according to long-distance traders.
They also confirmed that pepper in Battery, Pulpally area of Wayanad district was traded at Rs 645-650/kg. However, the old pepper is still traded at Rs 665 – 675/kg.
Last week, 700 tonnes of suspected contaminated pepper, which had been cleaned at the Walayar warehouse in Palakkad district, was purchased by a company for Rs 700/kg and more, they added.
Yesterday, Tuesday, December 29, according to traders trading in the spot market, the amount of goods being shipped is increasing day by day. This caused the spot pepper price to continue to drop another Rs 500, to Rs 63,100/quintal ($9,517/ton) for bucket pepper and Rs 66,100/quintal ($9,970/ton) for matured pepper. preliminary treatment.
On the IPSTA Spices Association Floor, the January, February and March futures contracts simultaneously decreased by Rs 1,000/quintal, down to Rs 66,000/quintal (equivalent to $9,955/ton), Rs 59,500/ton, respectively. quintals (equivalent to USD 8,974/ton) and Rs 57,000/quintal (equivalent to USD 8,597/ton).
The export price of pepper from India is about 10,300 USD/ton (c&f) to Europe and 10,550 USD/ton (c&f) to the US, down 200 USD compared to the middle of the month, still higher than pepper from other origins. other.
* According to the report of Vietnam’s Agriculture and Rural Development sector, the export volume of pepper in December 2015 is estimated at 8 thousand tons, with a value of 72 million USD, bringing the pepper export volume in 2015 to 135 thousand tons at a price worth $1.26 billion, down 13% in volume but up 5% in value. The average export price of pepper in the first 11 months of 2015 reached $9,335/ton, up 21.5% over the same period in 2014. The largest pepper export markets of Vietnam are the United States, the United Arab Emirates and the United Arab Emirates. Thong Nhat and Singapore with 35.87% market share. Markets with strong increase in value were Germany (35.51%), South Korea (32.73%), Spain (31.18%) and the UK (30.25%).
* Exchange rate: 1 USD = 66,2994 Rupees
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