(January 13) – The reason pepper prices continue to fall is due to the release of a large number of pepper holdings more than two years ago, according to market sources of the company. Business Line.
Spot pepper prices continued to decline when it was reported that a large volume of “contaminated” pepper after treatment was sold to the market, reducing supply pressure. Although the pepper of the new season has been harvested, farmers are not in a hurry to sell it because the forecast shows that the output of the new season of Indian pepper is not as expected, the domestic market is still tight in supply.
Yesterday, Tuesday, January 12, 700 tons of pepper held more than two years ago were released, causing spot and futures prices to drop slightly. New crop in the High Mountains is demanded by traders for Rs 635/kg while buyers are willing to pay only Rs 625/kg.
On the futures market, 27 tons of pepper were delivered. Spot pepper prices fell further by Rs 400 per quintal to Rs 62,600 per quintal ($9,351 per tonne) for bucket pepper and Rs 65,600 per quintal ($9,799 per ton) for pre-processed pepper.
On the IPSTA Spices Association Floor, the January contract dropped Rs 1,000 per quintal to close at Rs 66,000/quintal ($9,859/mt) while the February contract stood at Rs 60,500/quintal ($9,037). /ton) and March stood at Rs 58,000/quintal (equivalent to USD 8,664/ton), remained unchanged.
The export price of Indian pepper is currently at $10,250/ton (c&f) for Europe and $10,500/ton (c&f) for the US, down $250 from last week.
*In the international markets, Vietnam has provided V-Asta for $8,375/ton; 550 Gr/l at $8,050/ton and 500 Gr/l at $7,800/ton. Indonesia has provided L-Asta grade at $8,500/ton, while Brazil said B-Asta grade at $8,375/ton.
* Exchange rate: 1 USD = 66.9455 Rupees
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