The spicy seasoning commodity remained firm on apprehensions of reduced pepper production during the current season and lack of adequate supply pressure from the new crop. Due to this, the pepper may remain strong in the coming days.
Harsh winter
Recently, there has been some relief from the harsh winter in many states of North India, including the capital Delhi, which favors pepper cultivation. Further, there are also reports of good conditions in Kerala, the prominent pepper-producing state in the country. But regardless of every factor supporting pepper, the arrivals of the commodity remain nominal in the leading wholesale shops of the state.
Apart from this, urban areas like cochin do not get significant produce, and the distribution is limited to rural areas only. It is because of direct purchases from farmers by primary wholesale dealers.
Future Scenario
The market sentiment is influenced by the insignificant sale of farmers in this region. However, the processing of pepper in Kerala and Karnataka continued to be below average because of covert imports from nations like Brazil, Indonesia, and Malaysia. The superstitious imports are nevertheless expected to have an impact on market sentiment. Kerala has seen an increase in direct trading of vital commodities recently, including pepper. This explains why business has been slow in numerous state shops.
Thus, according to current circumstances, the pepper may strengthen in the coming days as the arrival remain nominal. Experts opine that it is best to book profit in the coming days as the charts seem to head in the northward rally.
The pepper black 550 g/l prices were recorded at $6,80 per kg FOB.
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