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Declining pepper prices in Vietnam are worrying for Indian farmers as they fear a similar trend in the domestic market.
According to traders, Vietnam pepper prices have come down to around $200 per tonne following subdued demand from China, the largest buyer of Vietnam pepper. Similarly, Sri Lankan pepper is also reported to have begun a southward movement.
Since it is considered as a crucial period for pepper trade in general, Kishore Shamji of Kishor Spices said, Indian demand has to be met with domestically produced pepper alone, which would keep the prices steady with minor adjustments.
Though Indian demand is estimated at 5,000 tonnes a month, noe it has gone up to 6,000-7,000 tonnes.
The pepper market in Kochi was down by ₹1 per kg with ungarbled varieties quoting at ₹313 per kg. The total offtake was 28 tonnes. MG1 garbled varieties realised ₹333, while new pepper stood at ₹303.
The dealers from Coorg have started offering more and it is likely to continue. If the prices keep dropping, Shamji said, liquidation of stock by farmers at lower prices is likely.
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