The Hindu Business Line : Pepper exports surge 56% in 2006

Kochi May 7 Exports of pepper from the country showed a substantial leap in 2006 to 24,673 tonnes valued at Rs 242.8 crore against 15,800 tonnes in 2005, registering an increase of 56 per cent in volume and 84 per cent in value.

Total shipments during the first two months of 2007 were up by almost 80 per cent to 5,426 tonnes valued at Rs 61.5 crore with 143 per cent increase in export value compared with the corresponding period of last year, said an International Pepper Community (IPC) report.

Short supply from other origins coupled with competitive prices led to the increase in the Indian shipments last year.

Vietnam key mover

According to IPC, Vietnam continued to be driving the market. Prices at most origins with the exception of India firmed up daily.

Farmers in Vietnam continued to hold raw materials and only released them when prices met their expectations. Supply was limited and shippers were scrambling to accumulate stocks. At the end of last week, prices at HCMC were 53,000 Vietnamese dong a kg for local purchases, while at Daklak price for raw material was 50,500 dong. F.o.b prices were $3,400 per tonne and $3,605 per tonne for black 500 GL and 550 GL, respectively.

It was reported that price at Daklak jumped further to 56,000 dong at the previous week's close.

Ups & downs

In India, trading at the Commodity Exchange for May contract declined, but increased for June and July. Meanwhile, the average f.o.b. price at Kochi eased down by 3 per cent (unknown reason), it said.

In Lampung, local prices gained further albeit with limited activity. In Sarawak, price also gained by 6 per cent. In Sri Lanka, prices at growing areas moved up by 5 per cent.

The local price of white pepper also shot up higher. In Bangka, local price was up by 8 per cent to close at IDR 40,000 per kg. In Sarawak, prices were up by 6 per cent.

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