Sri Lankan produce drag spot pepper in India

Monday, 8 January 2018 00:00 - - {{hitsCtrl.values.hits}}

The Hindu: Some importers have allegedly imported Sri Lankan pepper at an invoice price of $ 7,850 a ton to overcome the MIP barrier of Inr 500 a kg.

Wednesday’s MG-1 export price is at $ 7,500 a ton. Total landed cost at this rate comes to Inr 565 a kg as against the Indian domestic price of Inr 450.

“It is something the DRI authorities should investigate,” market sources told Business Line. They said such transactions are made through some adjustments. 14 tons of Sri Lankan 525 GL pepper was traded at Inr 425 a kg and seven tons of High Range pepper of 550 GL was traded at Inr 450 a kg, trade sources said. Spot prices fell further by Inr 400 a quintal to Inr 44,500 (ungarbled) and Inr 46,500 (garbled).

Export prices were at 7,500 a ton c&f for Europe and $ 7,750 for the US.