Will Black Pepper Market Become Bullish? What’s Ahead

It has been reported that The Meteorological Department will extend the deadline of its ‘red alert’ of heavy rainfall to August 8 in South India. The states that will come under the warning are Kerala and Karnataka, the primary states that produce and sells black pepper in India. Along with this, there is limited availability of Brazilian black pepper. As a result, the market sentiment is likely to be affected and can help the black pepper market to move up in the coming days.

The information received was that heavy rainfall was reported in Kochi, Kerala. Although there is no possible damage to the coming pepper crop due to this rain, the possibility of the rain affecting the small cardamom crop is not being ruled out. Kerala has already received 257 percent more rainfall than average until July.

On the other hand, the new crop of Bharkara in Karnataka is expected to be relatively weak. In Kerala, the arrival of the new crop of black pepper in the spot markets is negligible.

However, there is negligible selling by the farmers, affecting the sentiments of the markets. The business activity in pepper in Kerala and Karnataka remained sluggish to normal. There are reports of deals being delivered directly to the consuming spot markets from the rural areas of Kerala. The main reason is that the buyers purchase black pepper straight from the farmers.

Over the past few years, direct deals in various significant commodities, including black pepper, have increased in Kerala. This is the reason why the operational activities across multiple spot markets of the state remain sluggish. Contrary to the forecast, this time, the production of black pepper in Kerala is expected to fall. Also, pepper production is estimated to be comparatively low this time in Vietnam. Hence in the coming days, there is no fear of recession in the price of black pepper.

The Pepper black 550 g/l prices were Recorded at $7,05 per kg FOB.

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