(August 18) – Domestic demand for pepper continues to increase. In the markets of North India, there is competition between Kamataka pepper and imported pepper offered at low prices, according to information from Business Line.
Pepper from Pulpally and Bathery in Wayanad district – Kerala is traded at Rs 490/kg but the supply is also very limited. While Kamataka pepper is offered for sale in the northern markets at Rs 475 – 480/kg and imported pepper is offered at Rs 455 – 460/kg, a difference of Rs 20/kg.
However, the quantity of good quality pepper being put into business is very limited and imported pepper is not much anymore.
Yesterday, Thursday, August 17, spot pepper prices increased by Rs 200, to Rs 48,400/quintal (USD 7,538/ton) for bucket pepper and Rs 50,400/quintal (USD 7,850/ton) for pre-processed pepper.
On the NCDEX commodity floor, the September delivery term increased by Rs 570 to Rs 48,470 per quintal and the October delivery term increased Rs 450 to Rs 48,450 per quintal (equivalent to $7,549/ton and $7,546/ton). .
According to statistics from the floor, the price of pepper futures has almost continuously grown due to the significant increase in the number of open contracts. And it is this along with the limited domestic supply that has helped the spot price of pepper to increase continuously since the re-launch of the NCDEX pepper futures exchange on July 24.
Export price of Indian pepper, MG1 specialty, at $8,125/ton for European delivery and $8,350/ton for US delivery.
*According to the report of the General Department of Vietnam Customs, export in July 2017 reached 21,536 tons of pepper of all kinds, with a turnover of 96.69 million USD, down 5.8% in volume and 10.4% in quantity. value compared to the previous month but increased by 22.4% in volume and decreased by 17.3% in value over the same period last year. The average export price of pepper in the period reached US$4,490/ton, down 1.69% compared to the average export price of July 2017. Accumulated in the first 7 months of 2017, Vietnam exported 147,388 tons of pepper of all kinds, with a total export value of 809.28 million USD.
*Exchange rate of 1 USD = 64.2084 Rupees.
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