Black Pepper prices unlikely to rise soon: IPC
Faced with excess supplies, global black pepper prices may see an upward trend only by 2020, according to a top official of International Pepper Community (IPC), an intergovernmental organization of pepper producing countries.
“Right from the second half of 2016, pepper prices have seen a falling trend. It was worse in 2017. But now in the second half of 2018, they are less volatile,” said Hoang Thi Lien, executive director of International Pepper Community (IPC).
Global prices are averaging around $3000 per tonne now,
Lien warned that the farmers shouldn’t expect ‘sky-high’ prices in the coming years. “Those price levels were fuelled by speculation and not the real demand. It may not happen again.’’ Indian pepper prices too have fallen below Rs 400 per kg from around Rs 550 per kg a year ago, prompting the center to impose a minimum import price (MIP) of Rs 500 per kg to protect the local growers.
Lien said the MIP is not a correct step as prices are declining in all producing countries and India can’t be an exception.
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