High pepper availability pounds black pepper spot prices
According to latest pepper estimates,India’s Black pepper production in this 2017 season is to drop due to failure of monsoon rains in major growing regions in Kerala and Karnataka.
Although there is lower production,but the spot prices in domestic market have been fallen significantly from last few weeks.
The spot prices for black pepper have dropped to ₹58,300 on February 21 from ₹66,000 a quintal on January 13.
International Spice Conference held in Thiruvananthapuram last week have explained this situation like, “The price fall in country is due to increased availability of pepper in world market. World pepper output was projected at 4,58,500 tonnes, up from 3,86,000 tonnes in 2016.”
It estimated Indian production at 50,000 tonnes this year as against 66,000 tonnes in 2015 and 32,000 tonnes in 2016.
The official output projection for 2017 was at 55,500 tonnes as against 48,500 tonnes in 2016
A drop in the area under the crop, low productivity and consequent high production cost has made pepper cultivation difficult as said a farmer in Meenangadi (Wayanad) to Business Line.
“We were expecting a comparatively good crop in 2016-17 following the summer showers last year. But the situation has changed dramatically after the failure of both the monsoon rains. As a result, there is a decline in the crop by 30 to 40 per cent, a major grower in Kottayam district said.
