| Date: |
31-05-2016 |
| Subject: |
Black pepper may turn costlier due to poor harvest |
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KOCHI: Black pepper is likely to turn costlier in the coming months due to poor harvest in India and forecast of reduced supply from Indonesia , two major producers of the spice after Vietnam.
Indian black pepper is currently priced at about Rs 720 per kg. As per industry estimates, this year's crop will amount to 35,000-40,000 tonnes, a steep fall from 65,000 tonnes last year.
"The pre-monsoon showers seem to have affected prices, which are holding steady. But bulk of the stock is with the growers, who are waiting for the prices to rise to release it,'' said Jojan Malayil, CEO of Bafna Enterprises.
Growers expect pepper prices to surge beyond the previous record of Rs 765 per kg and touch Rs 800 per kg. Karnataka is the leading producer of pepper in India, followed by Kerala.
In 2015-16, exports of Indian pepper increased 31% in quantity and 43% in value from a year ago. As per the initial estimates of Spices Board , pepper exports reached 28,100 tonnes.
Pepper exports in 2015-16 were highest in the past few years and comprised mostly imported pepper from Vietnam and Sri Lanka. Imports may continue in the current year, with output in Vietnam, the largest producer, increasing to 1.5 lakh tonnes.
Source : economictimes.indiatimes.com
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