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IPC REPORT

An IPC report said that the black pepper market continued to be quiet and in India the market showed a downward trend and price eased although limited arrival from current crop. The situation was due to limited overseas demand. Average futures prices at the commodity exchange declined by around 5-6 per cent.

On Feb 19, however, prices showed some improvement. In Vietnam, the market was also quiet.
Spice exports from India were valued at over $11 billion — an all-time high — in 2008-09.
About 470,520 tonnes were exported and in dollar terms the value fetched was $11.68 billion (Rs 5,300.25 crore), Spices Board Chairman VJ Kurien said.


The exports of spices thus offer tremendous export potential. For achieving this, there is need to push up production through advanced technologies such as tissue culture and biotechnology, gearing up private entrepreneurs to start processing industries for extraction of essential oils, development of storage and warehousing, transport and market infrastructure in the country, close coordination among various organizations related with exports of spices and creating greater awareness about the benefits of using byproducts of spices viz. spices oils, oleoresins, and natural colours. Besides, special efforts need to be made to push up consumption of aromatic spices in the overseas markets.

Despite an all-time high performance in 2008-09, the current financial year has commenced with a pessimistic note on the export of major spices.

India had crossed a milestone in the export of spices in 2008-09, as total earnings crossed the Rs 5,000 crore mark for the first time. Exports for the year were 470,520 tonnes, up by 6 per cent and valued at Rs 5,300 crore, up by 19 per cent.

During the previous financial year, 444,250 tonnes valued at $11.01 billion (Rs 4,435.50 crore) were exported.

The spice exports were at an all-time high both in terms of volume and value. Compared with last year, the export had shown an increase of 19 per cent in rupee value and six per cent in dollar terms.

The increase in quantity was also six per cent. The export had also exceeded the target in terms of volume, rupee value and dollar terms of value. The export target for 2008-09 was 4,25,000 tonnes valued at Rs 4,350 crore ($1,025 million) for the year 2008-09.

However, anticipating a deceleration in exports due to recession, Kurien said the board was projecting exports worth Rs 4,500 crore only in 2009-10. Already there has been a dip in volume of 20-25 per cent to all countries, he said adding the 6-7 months inventory level has been reduced to a month now.

The exports to the European Union have also dwindled to a large extent.
If the assessment of the overseas reports turns out to be a reality and Indian prices remains competitive, orders could come to India in the near future as the buyers who have been reluctant to buy due to the current economic crisis and the comparatively high prices at various origins might have to cover to meet their immediate future demands.
 
IPC REPORT

An IPC report said that the black pepper market continued to be quiet and in India the market showed a downward trend and price eased although limited arrival from current crop. The situation was due to limited overseas demand. Average futures prices at the commodity exchange declined by around 5-6 per cent.

On Feb 19, however, prices showed some improvement. In Vietnam, the market was also quiet.
Spice exports from India were valued at over $11 billion — an all-time high — in 2008-09.
About 470,520 tonnes were exported and in dollar terms the value fetched was $11.68 billion (Rs 5,300.25 crore), Spices Board Chairman VJ Kurien said.


The exports of spices thus offer tremendous export potential. For achieving this, there is need to push up production through advanced technologies such as tissue culture and biotechnology, gearing up private entrepreneurs to start processing industries for extraction of essential oils, development of storage and warehousing, transport and market infrastructure in the country, close coordination among various organizations related with exports of spices and creating greater awareness about the benefits of using byproducts of spices viz. spices oils, oleoresins, and natural colours. Besides, special efforts need to be made to push up consumption of aromatic spices in the overseas markets.

Despite an all-time high performance in 2008-09, the current financial year has commenced with a pessimistic note on the export of major spices.

India had crossed a milestone in the export of spices in 2008-09, as total earnings crossed the Rs 5,000 crore mark for the first time. Exports for the year were 470,520 tonnes, up by 6 per cent and valued at Rs 5,300 crore, up by 19 per cent.

During the previous financial year, 444,250 tonnes valued at $11.01 billion (Rs 4,435.50 crore) were exported.

The spice exports were at an all-time high both in terms of volume and value. Compared with last year, the export had shown an increase of 19 per cent in rupee value and six per cent in dollar terms.

The increase in quantity was also six per cent. The export had also exceeded the target in terms of volume, rupee value and dollar terms of value. The export target for 2008-09 was 4,25,000 tonnes valued at Rs 4,350 crore ($1,025 million) for the year 2008-09.

However, anticipating a deceleration in exports due to recession, Kurien said the board was projecting exports worth Rs 4,500 crore only in 2009-10. Already there has been a dip in volume of 20-25 per cent to all countries, he said adding the 6-7 months inventory level has been reduced to a month now.

The exports to the European Union have also dwindled to a large extent.
If the assessment of the overseas reports turns out to be a reality and Indian prices remains competitive, orders could come to India in the near future as the buyers who have been reluctant to buy due to the current economic crisis and the comparatively high prices at various origins might have to cover to meet their immediate future demands.

Hey, thanks for your help and sharing the information on IPC. Well, i have also a document and uploading it where you would get more information on IPC.
 

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