Black pepper price in India 2016/2017: Import increased, Export decreased
India’s pepper exports are down sharply by 37% in 2016/2017, while imports are up, according to Business Line.
India has exported 17,600 tonnes of pepper, worth Rs.1,141.89 crore in the 2016/2017 fiscal year, compared with 28,100 tonnes of pepper valued at Rs 1,730.42 crore in the previous fiscal year 2015/2016. As a result, pepper exports dropped 37% in volume and 34% in value. The fiscal year of India begins on April 1 of the following year and ends on March 31 of the following year.
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In the period from April 2016 to February 2017 (11 months) at the Port of Kochi alone imported 15,644 tons, up 7.9% over the same period last year. All India estimated at this time imported about 18,500 tonnes. Fiscal year 2015/2016, the total import of pepper was 19,365, worth Rs.1,162.96 million, sources said.
In 2016, India imported 11,180 tonnes of pepper from Vietnam and is one of the five main importers from this source. Export business sources said exports fell sharply as Indian pepper prices were now higher than pepper in other countries.
“Many Malabar buyers have switched to Indonesian and Vietnamese pepper. So we have lost many of our export markets and it is a very difficult task for exporters to take back the lost markets, “said Kishor Shamji, a veteran exporter.
Output does not increase
He said that Indian prices were high due to strong domestic demand but the output did not increase accordingly.
In the end, about 90% of Indian pepper exports are re-exported pepper imported after added value added such as pepper, pepper and pepper disinfection. Exporters accounted for 9,795.42 tons of imports through the port of Kochi and re-exported 5,848.77 tons.
Traders and pepper farmers said prices have fallen by more than Rs 21,000 a quintal in a year as imports of cheap pepper from Vietnam through Sri Lanka under false pretenses.
In response to complaints from farmers, Homey Cherian, director of the Spice Development Division of the Ministry of Agriculture, said that the production of pepper from ASEAN could be transferred to Sri Lanka or other countries of the Hague. South Asia Cooperation Association (SAARC) to reduce import tariffs, but there is no evidence to support this. The Indian government is taking measures to prevent the import of pepper, he stressed.
On June 20, 2016, spot prices were at Rs 69,700 a quintal and Rs 72,700 a quintal. But today prices are Rs 48,500 a quintal and 50,500 a quintal, respectively. However, Malabar pepper is still no competitor in the global market, according to traders.
* According to the report of the General Department of Vietnam Customs, exports in the first half of June 20117 reached 11,395 tons of pepper, with a value of 54.77 million USD, up 36.2% in volume but decreased 21 , 1% in value over the same period last year. The average export price in the period reached $ 4,806 per ton, down 8.02% compared to the average export price of May 2017.
* Exchange rate: 1 USD = 64.5363 Rupees
