Will Indian Black Pepper market become bullish?

Earlier in the week, the Black Pepper market experienced a price drop, but it reached steady pricing in the following days.

Market Sentiment 

• The spot markets of Black Pepper, mainly Kochi, are getting a new crop supply that is capping the spice prices.
• The other factor that has been capping the price of the domestic pepper is the Sri Lankan imported pepper which is being sold at a lesser price.
• Currently, the trading price for MG1 Black Pepper is $6820,20 per MT; however, with an increase in the new crop, the price is likely to go down.
• The new pepper is now being traded at $6421,40 per MT, and its price too is expected to go down.
• The Vietnam domestic market price has increased slightly in the last few days by $0,04 per kg.
• Indian pepper market is likely to be a significant player in the export market since the production of Vietnam pepper is low due to unfavourable weather conditions.

Predictions 

• According to experts, with the increase in the crop supply, the MG1 pepper price is likely to go down by $6514,40 to $6647,40 per MT.
• The new pepper is likely to be down between $6248,50 and $6315,00 per MT.
• But with the overall production of Indian pepper being low, there is the expectation that the market will become bullish in the coming days.

Price Trend

Black Pepper 500 GL