According to the Indian regulator, this year’s crop will yield 35,000 to 40,000 tons, down sharply from 65,000 tons last year.
According to the Vietnam Trade Office in India, black pepper is likely to increase in price in the next few months due to crop failure in India and a forecast reduction in supply from Indonesia. These are the two main suppliers of this item after Vietnam.
According to the Indian regulator, this year’s crop will yield 35,000 to 40,000 tons, down sharply from 65,000 tons last year.
The Vietnam deal quoted Mr. Jojan Malayil, CEO of Bafna Enterprises (India), as saying that the first rains of the season seem to have affected prices, and are being kept quite stable. But goods are mostly in the hands of pepper growers and they are waiting for prices to rise to sell, he said.
Currently, Indian pepper is selling for about Rs 720/kg, equivalent to VND 242,000. The pepper growers expect pepper prices to surpass the previous record of Rs 765/kg to reach Rs 800/kg.
In 2015-2016, India’s pepper exports increased by 31% in volume and 43% in value compared to the previous year. According to preliminary estimates of the Spices Board, pepper exports reached 28,100 tons, the highest level in recent years.
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