Mattancherry: Pepper prices have reached unprecedented levels, with ungarbled pepper climbing by ₹200 to ₹62,900 per quintal on Saturday, while garbled pepper surged to ₹64,900 per quintal. This marks an ₹8 per kilogram increase over the past week, reflecting a strong upward trend in both domestic and international spice markets.
India’s pepper prices have skyrocketed to $7,900 (approximately ₹668,060) per tonne in the global market, making it the most expensive globally. Meanwhile, prices in other major pepper-producing nations are also on the rise, with Vietnam’s pepper priced at $7,050 (₹596,179) per tonne and Sri Lanka’s at $6,800 (₹575,039). Indonesia and Brazil have reported similar increases, further contributing to the global surge.
Despite pepper imports from various countries in November, a weakening Indian rupee has curtailed import volumes. The high domestic demand has added to the price escalation, creating a bullish outlook for the market.
This price hike has sparked optimism among Indian farmers, as the lucrative rates present an opportunity for improved profits. With growing demand and limited imports, traders expect pepper prices to continue their upward trajectory, making it a promising season for the Indian spice industry. The soaring pepper prices have also highlighted the challenges of maintaining competitiveness in the global market. While Indian pepper remains the priciest, its superior quality continues to attract buyers despite the cost. Industry experts emphasize the importance of supporting domestic farmers through strategic policies and investments to sustain this growth. As global spice markets evolve, Indian pepper could solidify its position as a premium product, benefiting both farmers and traders in the long run.
