Commercial activity after the festive season continues to be limited due to tight supply. While the black pepper currently trading in the market is alleged to have been derived from a quantity of pepper contaminated with mineral oil that is allowed to be released mixed with the material of the new crop, according to a market source on Business Line..
The spot pepper market has remained stable over the past few days due to limited trade activities. However, the domestic market is still active with increasing requirements.
On Friday, August 14, in the futures market, 10 tons of pepper was traded at Rs 635/kg.
The contracts on the IPSTA Spices Association floor all increased by Rs 500. Specifically, the contract for delivery in August increased to Rs 67,000/quintal (equivalent to USD 10,288/ton), and the contract for September delivery increased to Rs 67,500/quintal (equivalent to USD 10,365/ton).
Spot pepper prices remained unchanged at Rs 62,000/quintal (US$9,520/ton) for bucket pepper and Rs 65,000/quintal (US$9,981/ton) for pre-processed pepper.
The export price of special pepper from India remained at 10,700 USD/ton (c&f) for European delivery and 10,950 USD/ton (c&f) for delivery to the US.
Sri Lankan pepper prices continued to decline slightly, with black pepper 525-530 Gr/l priced at $8,900/ton (fob) and $8,950/ton (c&f) for delivery in Kochi, trade sources said.
Meanwhile, Indonesia has raised the price of Asta pepper to 10,250 USD/ton (fob), while Vietnamese black pepper has also been reported to increase slightly to 10,150 USD/ton (fob).
Brazilian black pepper Asta grade is sold for $9,500/ton (fob), while grade B1 – 560 Gr/l and grade B2 – 550 Gr/l are priced at $9,400/ton and $9,200/mt (fob), respectively. ).
In general, export prices of pepper from all origins increased by 100-150 USD/ton in the past week.
*According to the report of the General Department of Vietnam Customs, exports in July 2015 reached 9,425 tons of pepper of all kinds, with a turnover of 94.55 million USD, down 32.4% in volume and down 30.2% in value compared to the previous month and decreased by 21.7% in volume but increased by 0.3% in value over the same period last year. The average export price of pepper in the period reached 10,032 USD/ton, up 3.18% compared to the average export price of June 2015.
*Exchange rate : 1 USD = 65,1227 Rupees
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