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NCDEX tips, Sri Lankan produce drag spot pepper
Some importers have allegedly imported Sri Lankan pepper at the invoice price of $7,850 a tonne to overcome the MIP barrier of ₹500 a kg.
Wednesday’s MG-1 export price is at $7,500 a tonne. Total landed cost at this rate comes to ₹565 a kg as against the Indian domestic price of ₹450.
“It is something the DRI authorities should investigate,” market sources told BusinessLine.
They said such transactions are made through some adjustments. 14 tonnes of Sri Lankan 525 GL pepper were traded at ₹425 a kg and seven tonnes of High Range pepper of 550 GL were traded at ₹450 a kg, trade sources said.
Spot prices fell further by ₹400 a quintal to ₹44,500(ungarbled) and ₹46,500 (garbled).
Export prices were at 7,500 a tonne c&f for Europe and $7,750 for the US.
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