There was a bit of a slump in the market as the new crop started arriving in abundance in Karnataka. But gradually, with the slow arrival, the price is reported to have increased by $0,70 -$0,91 per kg. Moreover, the low production of the crop in Mercara/ Madikeri of Karnataka is helping the price of the commodity.
The arrival of new black pepper in the spot markets of Karnataka has decreased. Moreover, the arrival of the crop is almost negligible in the spot markets across Kerala, including Kochi. These factors can help the price to move up for the spice in the coming days.
The price of the black peppers stays stable in the market due to the fewer buying activities in domestic markets. However, it’s been reported that the crop has not reached the big spot markets like Kochi since the new crop’s arrival in the last two months. Hence there has been sluggish purchase activity in the urban and suburban spot markets.
The price remained between $7,18 and $7,31 at the wholesale market in Karnataka for the last few days. However, it is despite the slow purchase. It has been reported that recently in Kochi, after the slump. The price moved up by $0,13 – $0,20 per and stayed stable at $6,98 – $7,11 per kg.
Market experts stated that direct deals are being made between farmers and buyers in Kerala. As a result, the activity in several spot markets has been sluggish in the state.
It has been predicted that the overall production of black pepper is expected to be below. This is because most farmers are moving toward planting other crops since that spice has failed to provide many benefits in the last few years. Also, the production of black pepper in Vietnam has decreased. As a result, the price of spice is expected to remain strong and can also be bullish in the upcoming days.
|April 19 – 25||$7,97 per kg FOB|
|April 14 – 18||$7,95 per kg FOB|
|April 12 – 13||$7,90 per kg FOB|
|April 7 -11||$7,85 per kg FOB|
|April 6||$7,80 per kg FOB|
|April 5||$7,70 per kg FOB|
|April 4||$7,65 per kg FOB|
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