Pepper prices is likely to rebound due to severe weather in Kerala and higher demand in the upcoming festive season, traders said.
Currently, the market wants to keep minimum inventories and wait for pressure from Indonesia and Brazil's crop to trade with buyers is slow.
The Indian market has witnessed some imports from Sri Lanka finding their way into the domestic market. “The market was looking forward pepper Indonesia and Brazil surrendered to push the market. Looks like they have no expected output. Vietnam sold 95,000 tons in the first seven months of 2013 and it seems they don't want to sell any more. I think the market will recover on the short-term shortage as traders want to fill the supply, ”said Jojan Malayil of Kochi-based Bafna Enterprises. Indian markets may recover due to festive purchases that will begin next month and pepper prices could recover higher, he added. Price spot pepper in the Indian market currently at over Rs 400 per kg.
Indonesian crops are usually marketed in mid-July and pepper Brazil will also hit the market in August. Traders will buy aggressively during the September to October period, which is considered to be the peak consumption season in the market pepper Global. Countries like the US and Europe also added inventory for Christmas and New Year celebrations, starting in September.
Kishore Shamji, a veteran exporter of spices, told The Financial Express that Community estimates pepper International (IPC) on higher supply than in 2013 is wrong. “Quantity pepper India is estimated at 55,000 tons, but I don't think so as we have had many. Supply is tight in the Indian market and farmers are holding back because of severe weather conditions.
Pepper of Sri Lanka sold at lower prices and this has kept the market low now, while the supply of the domestic market is limited, he added.
Heavy and continuous rain in the southern states are raising concerns about plant growth pepper. pepper have high sensitivities and heavy rainfall can cause low productivity.
The Indian Spice Research Institute conducts a research program on the relationship between climate and productivity black pepper in the case of prolonged drought or sudden heavy rain can drastically change the two stages of fruit development that can increase the seed density.
Source Giacaphe.vn
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