Follow Business Linethe spot price of pepper remained stable due to the match with supply and demand, although the selling pressure of the new crop increased.
On Friday, February 20, exporters and domestic trading companies actively increased their purchasing power, so 100 tons of pepper were traded. Of these, 60 tonnes came from Kerala and 40 tonnes came from Karnataka.
Traders say pepper has become available and cheaper from the state of Karnataka as collectors who transport themselves by rail and without bills have not appeared. And so, the number of goods being shipped to the futures market has increased.
Karnataka pepper is sold at Rs 580/kg while pepper in the High Mountains in the state of Kerala is traded at Rs 600/kg and pepper from other regions is traded at Rs 590 – 595/kg.
Spot prices remained unchanged at Rs 58,500 per quintal ($9,396 per ton) for bucket pepper and Rs 61,500 per quintal ($9,878 per ton) for preprocessed.
On the IPSTA Spices Association Floor, all active contracts are reduced by Rs 1,000 simultaneously. Specifically, the March, April and May contracts were at Rs 58,500/quintal, Rs 54,382/quintal and Rs 54,179/quintal respectively (equivalent to $9,396/ton, $8,734/ton and $8,702/ton).
Export prices are at $10,000/ton (c&f) for spot shipments and $9,300/ton for March delivery in Europe.
The price of Vietnamese black pepper has increased to $8,700/ton.
* According to the report of the General Department of Vietnam Customs, exports in January 2015 reached 10,492 tons of pepper of all kinds, with a turnover of $ 99.37 million, up 2.7% in volume and 44.8% up. value compared to the same period last year. The average export price of pepper in the period reached $9,471/ton, down 4.42% compared to the average export price of December 2014.
*(Exchange rate 1 USD = 62.2612 Rupees)
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