(June 25) – India’s pepper exports plummeted by 37% in 2016/2017, while imports increased, according to Business Line.
According to a source from the Spices Board, India exported 17,600 tons of pepper of all kinds valued at Rs 1,141.89 million in the financial year 2016/2017, compared with 28,100 tons of pepper valued at Rs 1,730.42 million. in the previous financial year 2015/2016. As a result, pepper exports fell by 37% in volume and 34% in value. The Indian financial year begins on April 1 of the previous year and ends on March 31 of the following year.
In the period from April 2016 to February 2017 (11 months) alone, 15,644 tons were imported at Kochi port, up 7.9% over the same period last year. It is estimated that the whole of India during this period imported about 18,500 tons. In fiscal year 2015/2016, total pepper imports were 19,365, valued at Rs 1,162.96 million, the source added.
In 2016, India imported 11,180 tons of pepper from Vietnam and was one of the five main importers from this source. Export business sources said exports fell sharply because Indian pepper prices are currently higher than other countries’ prices.
“Many buyers of Malabar pepper have switched to buying Indonesian and Vietnamese pepper. So we have lost many of our export markets and it is a very difficult task for exporters to regain lost markets,” said Kishor Shamji, a veteran exporter.
Output does not increase
He attributed the high Indian pepper prices to strong domestic demand but production has not increased accordingly.
After all, about 90% of India’s pepper exports are re-exports of imported pepper after the addition of added value such as pepper essential oil, crushed pepper and pasteurized pepper. Exporters accounted for 9,795.42 tons of pepper imported through Kochi port and re-exported 5,848.77 tons.
Pepper traders and farmers said that the selling price had fallen by more than Rs 21,000 per quintal within a year due to the import of cheap pepper from Vietnam through Sri Lanka in the form of false statements.
Responding to farmers’ complaints, Mr. Homey Cherian, Director of the Spices Development Division at the Ministry of Agriculture, said that ASEAN’s pepper production could be transferred to Sri Lanka or other countries in the Association of Southeast Asian Nations (ASEAN). South Asian Association for Regional Cooperation (SAARC) for reduced import duties, but there is no evidence to support this. The Indian government is taking many measures to prevent the illegal import of pepper, he stressed.
On June 20, 2016, the spot price of pepper was at Rs 69,700/quintal (bucket pepper) and Rs 72,700/quintal (preliminarily processed pepper) per quintal. But now the price is only at Rs 48,500 / quintal and 50,500 / quintal, respectively. However, Malabar specialty pepper still has no competitors 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 2017 reached 11,395 tons of pepper of all kinds, with a turnover of 54.77 million USD, up 36.2% in volume but decreased by 21 ,1% in value over the same period last year. The average export price of pepper in the period reached 4,806 USD/ton, down 8.02% compared to the average export price of May 2017.
* Exchange rate : 1 USD = 64.5363 Rupees
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