After Kerala, there are reports of a full active monsoon in Karnataka, the second major producer of black pepper. Therefore, in the coming days, there is a possibility that black pepper to remain strong in the spot.
After a brief pause, the monsoon has become active in these two producing states. When writing these lines, the Meteorological Department predicted heavy rainfall in Karnataka during the next 72 hours.
On the other hand, the Meteorological Department said a few days ago that Kerala had received about 70 percent below average and Karnataka about 60 percent less rainfall during the current monsoon season. Therefore, it can impact the new crop of Markara in Karnataka, where the yield is relatively weak. Also, due to the heavy monsoon, the arrival of the new crop of black pepper in Kerala is negligible in the spot markets.
Due to the negligible selling of farmers there, the markets’ sentiments are being affected.
Wholesale trade of commodities, including pepper, is going on in Kerala and Karnataka, but business activities have generally remained sluggish. The main reason is that the local buyers directly buy black pepper from the farmers.
Amid sluggish work, the black pepper market recently improved by $0,06 to $6,42 – $6,48 per kg in the wholesale grocery market in Delhi, NCR.
Over the past few years, direct deals in various significant commodities, including black pepper, have increased in Kerala. This is the reason why the working activities across multiple spot markets of the state remain sluggish.
Contrary to the forecast, this time, the production of black pepper in Kerala is expected to fall. This time in Vietnam, pepper production is expected to be comparatively low. As a result, Black pepper is expected to remain strong in the coming days.
The Black Pepper prices were Recorded at $7,35 per kg FOB
I