(January 18) – New crop selling pressure in the domestic Indian market is increasing as farmers in the two main pepper growing states, Kerala and Karnataka, enter the harvest season, according to market sources. above Business Line.
Thekken, a high yielding Indian hybrid pepper
Meanwhile, black pepper imported from Vietnam and Sri Lanka with a very significant volume continued to put downward pressure on the market.
On the futures market, yesterday, Wednesday, January 17, there were 33 tons of pepper, mainly from Sri Lanka, traded at an average price of Rs 405/kg and 18 tons of lowland pepper during the period. Kerala is sold at Rs 410/kg. Some exporters ordered MG1 special pepper but there was no supply. According to farmers, growers may not want to sell this GI because the price is falling too low.
Spot pepper prices also fell another 300 rupees to Rs 40,800/quintal ($6,386/ton) for bucket black pepper and Rs 42,800/quintal ($6,699/ton) for pre-cut black pepper. regime.
On the NCDEX, the price of pepper for January delivery was at Rs 44,450 per quintal (equivalent to $6,957 per ton) and for February delivery at Rs 44,700 per quintal (equivalent to $6,996 per ton), the price fell slightly by approximately approx. approximately Rs 100/quintal compared to last week.
India’s MG1 special pepper is exported at $6,925/ton (c&f) for European deliveries and $7,175/ton (c&f) for delivery in the US.
According to the Spices Association of India, in recent years, the import demand for pepper is estimated at 20,000 tons per year. Mainly pepper imported from Sri Lanka, Vietnam and Brazil, used to produce pepper essential oil, ground pepper and value-added disinfected pepper.
*According to the report of the General Department of Vietnam Customs, export in December 2017 reached 12,582 tons of pepper of all kinds, with a turnover of US$ 53.87 million, down 18.0% in volume and down 11.2% in value. value compared to the previous month but increased by 20.9% in volume and decreased by 21.8% in value over the same period last year. The average export price of pepper in the period reached $4,281/ton, down 5.70 percent compared to the average export price of November 2017. In the whole year of 2017, Vietnam exported 214,855 tons of pepper of all kinds, with a total export value of 1.12 billion USD.
*Exchange rate: 1 USD = 63.8898 Rupees.
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