black pepper

Black Pepper Remained Caged in the Dark Age Black Pepper Annual Report

Mintec Global
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Black Pepper had a promising start in Jan, but as the month preceded, it dripped gradually. In Feb, it recovered and saw a green rally, and the bearish run continued in March, and it healed in April. However, May witnessed a downward trend, which continued in June with minor correction but couldn’t stay stable. Thus, again, the sloppy journey began in July and continued in August and September, but a minuscule growth was witnessed at the offset in Sept. October stayed neutral. No significant movements were noted in November as well. However, in December, black pepper started to walk on its northward journey, but there was no buying support.

January-April

 The year’s onset was optimistic, but as the days passed, the market went into panic mode as the third wave of coronavirus was increasing, and many areas were imposed with COVID restrictions which slowed down the trades. In the next month, a reasonable demand was visible, and the decreased imports from Sri Lanka and Vietnam supported the market of black pepper. However, the demand cooled down in March as it was a financial closing year, and dealers were looking to settle their trades. Thus, there was no active participation visible in the market. The arrivals of wedding season bought a scope of rise in April as the domestic demand surged.

May-August 

 However, as the demand was fulfilled, May saw a sloppy trend continuously. Still, as the market gained stability in June, a sign of relief was seen among traders and stockists it was not yet time to relax as the prices fell further. The main reason for this was illegal imports of Pepper from Vietnam. Also, low-grade pepper from Sri Lanka made its way into southern India, which disturbed the trade chain of wholesalers and retailers. In July, the same downtrend continued and to add insult to injury, the rainfalls destroyed the hope of good pepper production in Karnataka. In August, the pepper was in its dark age as the sloppy trend persisted and hopes of a positive uptrend failed. This resulted in traders refusing to buy black pepper, and thus a wait-and-watch scenario emerged.

September-December 

There was stability for some time, but overall a southward journey prevailed. China is the prominent black pepper imported from Vietnamese pepper. Still, it did not purchase due to COVID; thus, the same black pepper entered the Indian market, hampering domestic activities in September. In October, pepper was surrounded by uncertainties and a plethora of challenges. It needed a robust platform supported by governance to make its comeback because there was confirmed news that pepper shipments would start with huge quantities without any proper procedure in terms of documentation and testing. Thus, imposing a threat in the future.

In November, the standing crops in Kerala witnessed heavy damage due to rainfalls; therefore, they remained in consolidated mode. The end month saw sluggishness even at improved prices because the domestic trade remained minimal, and no buying support was witnessed.

To conclude, it is noteworthy that Pepper remained in the dark state for most of the time this year, and it will take good reasons for the commodity to revive from its survival state currently. The future of this fruit seems to be unclear for the moment as it is now caged in the dark age.

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