According to Indian authorities, this year's crop will harvest 35,000 to 40,000 tons, down sharply from 65,000 tons last year.
The Vietnamese deal in India said that black pepper is likely to appreciate in the next few months due to crop failure in India and Indonesia is expected to reduce supply. These are the two main suppliers of this product after Vietnam.
According to Indian authorities, this year's crop will harvest 35,000 to 40,000 tons, down sharply from 65,000 tons last year.
The Vietnamese deal quoted Jojan Malayil, CEO of Bafna Enterprises (India), saying the early rains seemed to have affected prices, and were being held steady. But the commodity is now largely in the hands of pepper growers and they are waiting for prices to sell, he said.
Indian pepper is currently being sold at around 720 lakhs / kg, equivalent to VND 242,000. Pepper growers expect pepper prices to surpass previous records of Rs 765 a kg to reach Rs 800 a kg.
In 2015-2016, Indian pepper exports increased by 31% in volume and 43% in value over the previous year. According to preliminary estimates of the Spices Board, pepper exports reached 28,100 tons, the highest level in recent years.
Source Nhat Duy (NCDT)
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