The export price of India’s MG1 special pepper has risen to a new historic high of $12,000/ton (c&f) to Europe and $12,250/ton (c&f) to the US.
Indian pepper prices in the spot market continued to set new highs on strong demand amid tight supply. On the other hand, customers who shop on national and regional exchanges are willing to pay a higher price, even though the seller is not seen.
Industrialists, including those who had never paid before, were running around looking to buy whatever was available at current prices. But no goods were delivered because of unavailability and the workers were on holiday, pepper growers said. Traders in Idukki claim that dealers in Tamil Nadu district bought from growers at Rs 675/kg in cash and delivered on site, market sources said. Business Line know.
Meanwhile, in the state of Karnataka, pepper is offering for sale at Rs 700/kg and paying in cash but no one is willing to buy it, after an unscheduled sales inspection by the tax authorities, trade sources said. . Farmers are hoping that pepper prices will hit Rs 1,000/kg. According to trade, the consumption lines in the domestic market are currently empty and therefore demand is expected to increase in the coming days.
Yesterday, Monday, April 21, national and regional exchanges reported no business even though there were people willing to buy at higher prices.
Spot pepper prices jumped by Rs 4,500 to close at Rs 65,000 per quintal (US$10,722 per ton) for bucket pepper and Rs 67,000 per quintal (US$11,052 per ton) for selected pepper, at a level unprecedented historical record. ( 1 USD = 60,6243 Rupees )
India’s export price of MG1 specialty pepper rose to new historic highs of $12,000/ton (c&f) for Europe and $12,250/ton (c&f) for the US, as prices rose along with a weakening rupee. weak against the USD.
Giatieu.com
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