Despite low pepper production, the market was not picking up for the past several months due to the low import price of Vietnamese pepper. Now the loading has reduced due to strictness on it. There has been a rise of $0,19 per kg and now the market can increase by $0,65 per kg.
The prices have also increased in the international markets for black pepper due to good demand, there is a possibility of further rise. Now importers are not into new deals. This is the reason why there has been a perception of Kerala pepper going up. Traders stated that farmers faced a loss in black pepper crops in the last two years that’s why they have reduced production of it. New crop is also not nearby, which will support the market.
All the old stock has been sold out. On the other hand, consumption is expected to remain constant till the Diwali festival. At the present scenario, the market will cross $7,69 per kg in domestic marketing yards at any time. The producers of black pepper do not seem to be falling in the markets of North India, the market was under pressure only because of low price imports from Vietnam. Now, loading from Vietnam has decreased. In India domestic demand has started coming out at the current price level. The prices have also started increasing in Vietnam in the last 3 days.
Crop in the producing areas like Cochin, Shimoga, Coorg, etc., a decrease was noticed in the quality of the grain as well as in the productivity, due to which the gross production will be affected. The main concern is that the old stock of black pepper is very less, and the prices of Indian pepper are better compared to other countries, due to which the market can expect good demand which will eventually make the pepper market sharp.
Last year, the production of black pepper was 54 thousand metric tonnes and this time production is not expected to exceed 46-47 thousand tonnes, due to which there is a possibility of a further increase in the future.
The Black pepper prices were Recorded at $6,85 per kg FOB.
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