(April 24) – Importing pepper could cause significant harm to pepper farmers in the country, who are currently facing a severe crop failure due to adverse weather last year.
Concerned that pepper is imported through perjury and unplanned while domestic demand is strong and prices are high, domestic pepper growers and traders have called on Prime Minister Nagendra Modi and Trade Minister Trade Nirmala Sitharaman sets a minimum import price (MIP) of 6,000 USD/ton for black pepper imported from Vietnam.
Mr. Kishor Shamji, Chairman of the Indian Pepper and Spices Trade Association (IPSTA) and a veteran exporter said: Business Line know this organization has written up to Mr. Modi and Sitharaman about this.
“Vietnam pepper production in 2017 is estimated at 200 thousand tons and exporters have started to sell pepper at lower prices even though they have no competitors in the world market,” said Mr. K. Shamji said.
According to the ASEAN Trade Agreement, India has imported up to 54% of pepper from Vietnam, many Indian importers are buying more black pepper from Vietnam by paying taxes. It is known that the import tax rate of pepper is 60%,
“Many importers, attracted by high domestic prices, while the import prices are below cost and thus not only cost the government tax but also harm the interests of Indian pepper farmers. Degree”, in the letter. Vietnamese pepper can also enter India via Sri Lanka, Mr. Shamji added.
Meanwhile, pepper prices are reported to continuously decrease.
According to the International Pepper Community (IPC), pepper prices in the international market continue to decline slightly because Vietnam is harvesting the main crop, while the crops in India, Brazil and Indonesia have been completed.
Average price of black pepper in the past week was Lampung Asta 6,750 USD/ton, Kochi Asta 9,211 USD/ton, Kuching Asta 7,650 USD/ton. While black pepper HCM 500Gr/l-FAQ $5,150/ton and HCM 550Gr/l-FAQ $5,750/ton.
According to the report of the General Department of Vietnam Customs, exports in the first half of April 2017 reached 11,551 tons of pepper of all kinds, with a turnover of $ 66.37 million, up 9.62% in volume but down 16. 84% in value over the same period last year. The average export price of pepper in the period reached 5,746 USD/ton, down 2.3% compared to the average export price of March 2017.
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