(August 25) – Although the supply in the main pepper growing states is still tight, it has been offset by pepper from Sri Lanka and the smuggling of temporarily imported pepper.
The pepper market continues to maintain stability due to limited supply. Top exporters have bought cleaned contaminated pepper at the Walayar warehouse in Palakkad district for Rs 700/kg but there is not much left, they said on the website. Business Line.
In the northern markets of India, pepper imported from Sri Lanka is sold at Rs 710/kg. While in Mumbai, raw pepper imported from Vietnam to add added value and re-export, is suspected of being sold on the market for Rs 685/kg, according to trade sources revealed. .
Meanwhile, reports from traders in Jharkhand and Bihar, based in the states of Kerala, Karnataka and Vietnam, forecast low prices over the next three years due to bumper crops in all major producing countries that will impact negative impact on all markets.
On Tuesday 23/8, only 8 tons of pepper from the High Mountains were traded on the futures market at Rs 710/kg. The continued tight supply pushed the spot price of pepper up Rs 200 to Rs 69,200 per quintal (USD 10,308 per ton) for bucket pepper and Rs 72,200 per quintal (equivalent to USD 10,755 per ton) for pepper. processed type.
On the IPSTA Spices Association, September and October contracts remained stable at Rs 71,000/quintal and Rs 70,000/quintal (equivalent to $10,576/ton and $10,427/ton), respectively, while the monthly contract Eleven dropped Rs 1,000 to Rs 67,000 per quintal (equivalent to $9,980 per ton).
India’s MG1 export price of pepper was at $10,850/ton (c&f) to Europe and $11,100/ton (c&f) to the US, down $100 from the beginning of the month.
*According to the report of the General Department of Vietnam Customs, exports in July 2016 reached 14,404 tons of pepper of all kinds, with a turnover of 121.73 million USD, down 13.3% in volume and down 12.3% in value compared to the previous month but increased by 25.6% in volume and 8.9% in value over the same period last year. The average export price of pepper in the period reached 8,451 USD/ton, up 1.19% compared to the average export price of June 2016. Accumulated in the first 7 months of 2016, Vietnam exported 121,191 tons of pepper of all kinds, total export value of 984.84 million USD.
*Exchange rate: 1 USD = 67.1318 Rupees
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