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International Pepper Conclave 2013 – organised with the support of Jakarta-based International Pepper Community (IPC), an inter-governmental organisation – has launched three types of IPC Common Sales Contracts with a view to standardising the contract terms for export of pepper from different origins.
These contracts were approved by the member-countries early this year. Buyers and sellers are expected to adopt the contract terms soon and start trading on these terms, IPC representatives said.
S. Kannan, IPC Executive Director, said that pepper prices have been ruling at a little over $6 a kg or $6,000 a tonne and the market last year witnessed limited volatility. Higher prices since 2010 have encouraged area expansion, new origins and better yields through improved agronomy, he said, adding that this can potentially result in increased production two years down the line.
Inaugurating the seminar and exhibition, Ahmed Bin Sulayem, Executive Chairman of Dubai Multi Commodity Centre said that the Emirate has become a focal point for commodity trade because of free trade policies.
Two veterans who have served the pepper industry for five decades – J.V. Mariwala from India and Arie de Vrij of Netherlands – were felicitated.
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