Indian black pepper prices have increased more than 25% in the past year to Rs 709 per kg, spurred by low output and high domestic demand.
Drought in southern states has affected the cultivation of major commodities like rice, cotton and spices. Production of these commodities is likely to come down.
Traders estimate the cashew consumption in the country to be around 3 lakh tonnes. The annual export of cashew kernels comes to about 1.3 lakh tonnes
Turmeric prices have turned bullish on reports of a shortfall in production in the key growing areas of Andhra Pradesh and Maharashtra.
Industry experts said the drop in output may lead to an increase in the price of tender coconut and other coconut products in the coming months.
Now over 60 % of the total requirement for raw nuts of around 16 lakh tonnes is imported with the rest coming from the domestic production.
After growing nearly five times in the past four years to a record 1.55 lakh tonne, jeera or cumin, export is set for a correction this year.
Chilli prices may go up after about two months due to a slump in production of India’s largest exported spice and an increase in demand from China.
The suppliers of SR, which India mostly imports, are yet to reduce the prices, given the increasing demand for the products world over.
The situation has been aggravated by the slowdown in the tyre industry, which is yet to see a pickup in demand for truck and bus tyres.
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