Even as the pepper prices are turning hotter each passing day, about 1,600 tonnes of Vietnam pepper were imported last month for value-addition and re-export.
India is among the top five importers of Vietnam pepper. Local arms of multinational companies with multi-origin operations made offers at ₹700-715 a kg. Resellers have sold some quantity at these rates.
Meanwhile, growers fear that part of the imported material could slip into the domestic market, given the high domestic prices and the 120 days time to re-export to importers.
No trading was reported on Tuesday on the national and regional exchange platforms for want of sellers. There were no arrivals at the terminal market also. The tight supply situation is evident from the imports by the other origins from Vietnam last month, market sources told Business Line. Upcountry dealers are actively looking around for material in Karnataka, Kerala’s Wayanad and Idukki districts. Primary market dealers are said to have sold at ₹700-715 to inter-State dealers from Tamil Nadu.
On the spot, due to non-availability the prices shot up by ₹2,500 to ₹67,500 (ungarbled) and ₹69,500 (MG 1) a quintal.
Export prices remained at $12,500 c&f for Europe and $12,750 a tonne c&f for the US.
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