Follow Business Linelimited supply due to this year’s crop not as expected continues to keep the domestic price of pepper at a high level, while the main pepper growing states are still harvesting.
It is expected that the new crop of pepper from Wayanad in Kerala state and Coorg pepper in Karnataka state will be put on the market at the end of the month. However, the increase is somewhat limited due to the amount of pepper “mineral oil poisoning” held in the warehouses of the Commodity Exchange authorized for release after disposal.
However, pepper growers were not willing to sell for less than Rs 630/kg.
Yesterday, Monday, February 15, spot pepper prices increased by Rs 500 per quintal to Rs 61,500 per quintal (equivalent to $9,004 per ton) for bucket pepper and Rs 64,500 per quintal (equivalent to $9,443 per ton) for spot pepper. processed pepper.
On the IPSTA Spices Association, the February contract remained at Rs 64,000/quintal ($9,370/ton) while the March contract increased by Rs 1,000 to Rs 63,500/quintal ($9,297/ton). ton).
The export price of MG1 special pepper is $9,700/ton (c&f) for European delivery and $9,950/ton for the US, an increase of $200 compared to the beginning of the month.
Vietnamese pepper will be harvested immediately after the traditional Lunar New Year holiday and the new crop is expected to hit the market in early March.
* According to the report of the General Department of Vietnam Customs, exports in January 2016 reached 9,414 tons of pepper of all kinds, with a turnover of 85.85 million USD, up 24.5% in volume and up 18.6% in value compared to the previous month but decreased by 8.4% in volume and 11.9 % in value over the same period last year. The average export price of pepper in the period reached 9,120 USD/ton, down 4.73% compared to the average export price of December 2015.
* Exchange rate: 1 USD = 68.3042 Rupees
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