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Kochi, Sep 2 : Declining availability of pepper is hindering exports and firming up the market, traders said. Pepper exports have dropped by more than 21% during April -July of 2008-09, when compared to the performance of the last fiscal. During April-July 2008, India exported of 9,500 tonne of pepper valued at Rs 160.55 crore, as against 12,050 tonne valued Rs 173.17 crore last year. It is likely that India may end up exporting much lesser pepper for 2008-09, compared the export of 35,000 tonne in the 2007-08.
With good exports and domestic consumption pegged at 35-000 tonne - 45,000 tonne, the country would be left with very little carry over stock, a trader said. The crop for 2008-09 has been surveyed at 50,000 tonne by state agencies, while traders and farmers put it below 40,000 tonne.
Traders at the terminal market of Kochi say that supply had dropped to a bare minimum and the situation is expected to tighten in the days to come, as demand from the upcounty centres for festival increases.
Interestingly, domestic firmness is not in line with the global situation where Vietnam and Brazil are reported to have plenty of stock. Traders say that the global market is likely to ease while the Indian market firms up until the new crop comes in December or early January.
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