Trade sources say pepper imports from Vietnam rose 32% in Oct

India’s black pepper imports from Vietnam rose 32% to over 800 tn in October from 607 tn the preceding month, trade sources said.
“The rise in imports is mainly due to higher prices in India…also, imports are free from customs duty with re-export obligation,” said Heman Kishor, proprietor of the Kerala-based Hemanand Spices.
Kishor said that most of the imports meant to be exported are sold illegally in the domestic market to exploit the wide arbitrage in prices.
Vietnam is the world’s largest producer and exporter, as well as the cheapest source of pepper. In Vietnam, black pepper is available at 169-250 rupees per kg in Indian currency terms, depending on the quality, while in India, it is sold at 370-390 rupees a kg.
“Imports from Vietnam are expected to fall next month onwards as they have exhausted most of their old crop and new crop will come in February after the Chinese new year,” Kishor said.
Some importers in Bengaluru are considering buying pepper from Brazil due to lower prices in the south American nation, and route it through Madagascar to avoid high import duties.
India imported 2,597 tn of pepper in October, mainly from Indonesia, Vietnam, Sri Lanka, Ecuador, and Brazil.
India mostly imports pepper to manufacture value-added items such as oil and oleoresins.

Source: cogencis.com

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