Trade in the main markets remained steady, although somewhat quieted down due to the holidays, which resulted in a decrease in trading volume and a lack of selling interest, according to a business source on Business Line.
On Wednesday, September 23, there were 9 tons of pepper delivered on the futures market, of which 5 tons of high-weight pepper were sold at Rs 650/kg and the rest of the pre-processed pepper was sold. selling at 640 – 645 Rupees/kg.
Traders in Kerala said that pepper in the High Mountains was sold for Rs 645/kg delivered at the grower’s doorstep while pepper in the plains was offered at Rs 640/kg but in very limited quantities. Moreover, the market did not appear interested in buying from industrialists, domestic demand temporarily calmed down due to festivals.
On the IPSTA Spices Association Exchange, futures contracts remained stable. The October contract stood at Rs 67,000 per quintal ($1,153 per ton), while the November and December contracts stood at Rs 67,500 per quintal ($10,229 per ton).
Spot pepper prices remained unchanged at Rs 63,000/quintal (US$9,547/ton) for bucket pepper and Rs 66,000/quintal (US$10,001/ton) for pre-processed pepper.
In the international market, Vietnamese pepper prices are firm at 10,500 USD/ton (c&f) US. Sri Lankan pepper is offering 550 Gr/l for $9,500/ton and 525 Gr/l for $9,100/ton (fob). Indonesian black pepper grade L Asta is priced at 9,700 – 9,900 USD/ton (c&f) US.
The export price of Indian Malabar pepper is at 10,350 USD/ton (c&f) in Europe and 10,600 USD/ton (c&f) in the US, still maintaining its competitiveness.
* According to the report of the General Department of Vietnam Customs, exports in the first half of September 2015 reached 3,262 tons of pepper of all kinds, with a turnover of 33.06 million USD, down 21.52% in volume and down 13.5% in volume. 87% in value over the same period last year. The average export price of pepper in the period reached 10,314 USD/ton, up 0.91% compared to the average export price of the previous month.
*Exchange rate: 1 USD = 65,9920 Rupees
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