The Southwest Monsoon has finally become active over the major pepper-producing states like Kerala and Karnataka. However, even after this, there has not been an increase in the price of black pepper due to sluggish buying. Also, unfortunately, there is no hope of improvement in spot pepper in the coming days.
The arrival of the new crop of black pepper in Kerala is negligible in the mandis. However, due to negligible selling by farmers there, the sentiments of the markets are being affected. As a result, the price is not increasing. Also, Meteorological Department had recently said that Kerala had received about 60 percent less rainfall than average in the current monsoon season. Therefore, it is also a concern for black pepper traders.
On the other hand, the new crop of Makara in Karnataka is expected to be relatively weak.
Despite the wholesale trade of commodities, the activities remained sluggish than usual.
The new crop of black pepper has been coming to the rural areas of Kerala for the last several months, but it is not arriving in the state’s urban and major spot markets like Kochi. The buyers are making direct deals with the farmers, also keeping the price down.
Contrary to the forecast, this time, the production of black pepper in Kerala is expected to fall.
Also, Vietnam’s production of pepper is expected to be comparatively low this time.
According to market experts, there is no hope of improvement in the spot pepper in the coming days.
The Black pepper prices were Recorded at $7,50 per kg FOB
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