Mumbai – Weak sentiments witnessed in the black pepper market.
An increase in supply puts a cap on prices. As of 22nd June, ’21 new pepper 500 G/L traded at USD 5280 per MT.
As per trade information, Sri Lankan pepper production will increase by 25% in 2021 to 25,000 tons, and ending stocks would be around 2020 is about 12,000 tons. Meanwhile, Sri Lanka’s domestic pepper consumption is reported at only 12,000 tons. Therefore, the possibility of a large amount of Sri Lankan pepper imported into India is very high and puts the cap on prices.
Vietnam Pepper’s prices were generally flat in the provinces. The purchase price currently fluctuates in the range of 3.09 – 3.24 USD/kg.