Persistent selling in international market coupled with favorable monsoon for domestic crop incited some negative sentiments in domestic market.
Higher prices of domestic market in international market as Indian variety is quoting at $3560-3600 per tonne against the prices of Vietnam quoting at $2800-2850 and Brazil at $3200 per tonne, have kept the chunk of international buyers away from Indian market .
Moreover, fresh arrivals of Indonesian and Brazil crop also maintained the bearish sentiments in international market.
This along with favorable monsoon in pepper growing regions of Kerala such as Wayanad,Kollam and Idduki and also in Coorg of Karnataka also added some bearishness in the market. As per latest IMD reports , sturdy rainfall has been reported from last couple of days while more rain likely in the coming days .This will helpful for the growth of pepper fruits .Normally, pepper’s flowering starts during June-July and the light showers during this period are considered to be beneficial for the fruit-set. This will also helpful for the maturity of pepper berries, which are normally harvested in the month of November to December month.
Therefore , persistent supply situation in both domestic and international market against waning demand situation might keep the pepper prices under check at the higher levels.
Higher prices of domestic market in international market as Indian variety is quoting at $3560-3600 per tonne against the prices of Vietnam quoting at $2800-2850 and Brazil at $3200 per tonne, have kept the chunk of international buyers away from Indian market .
Moreover, fresh arrivals of Indonesian and Brazil crop also maintained the bearish sentiments in international market.
This along with favorable monsoon in pepper growing regions of Kerala such as Wayanad,Kollam and Idduki and also in Coorg of Karnataka also added some bearishness in the market. As per latest IMD reports , sturdy rainfall has been reported from last couple of days while more rain likely in the coming days .This will helpful for the growth of pepper fruits .Normally, pepper’s flowering starts during June-July and the light showers during this period are considered to be beneficial for the fruit-set. This will also helpful for the maturity of pepper berries, which are normally harvested in the month of November to December month.
Therefore , persistent supply situation in both domestic and international market against waning demand situation might keep the pepper prices under check at the higher levels.
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