Low supply due to a slower than usual harvest in Vietnam and stockpiling by Indian farmers has boosted pepper prices in the market. In the near future, the price of pepper in India is expected to increase by about 30%.
Although the harvest is completed in most of the major production areas in Kerala and Karnataka of India, production is still 50% less than estimated, while India’s domestic demand for pepper stands at 45 – 50 thousand tons.
In the first two months of 2010, India imported more than 900 tons of pepper from Vietnam and became the third largest pepper importer from Vietnam. In the first 10 months of 2009-2010, India became a net importer of pepper. In the past 2 years, pepper reserves at the Vietnam Pepper Association (VPA) have been ranked first in the world.
According to the statistics of the International Pepper Committee based in Jakarta – Indonesia, the world pepper production is expected to increase 3% in 2010 to 290,742 tons compared to 281,974 tons in 2009. Global pepper consumption , excluding China and India, has increased from 4% to 6%/year in recent years. However, stocks decreased by 32% in 2010 from 116,325 tons to 79,214 tons compared to 2009.
According to the Communist Party newspaper
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