India continues to be 3rd largest buyer of Vietnam pepper in March also

New Delhi 25 March 2010
India the largest consumer of pepper as a producing origin somewhere between 40,000 and 50000 mt with an average production of 45000 - 50000 mt annually continue to be the 3rd largest importer of pepper from Vietnam in the first half of march 2010 with 604 mt already destined for India according to the export statistics released in Hochiminh City.

These imports are besides the ones from Indonesia and Sri Lanka which clearly shows that indian origin black pepper exports are becoming thinner and thinner day by day which on one hand is very good as the country shouldnt end up importing pepper for home consumption but on the hand the cochin pepper mafia will continue to sow the fear psychosis weeds on local traders and farmers scaring with them the news of imported pepper flowing freely anywhere in the country.

United States of America stood first with 1050 mt followed by Germany 1046 mt in the first half of march with regard to imports from vietnam which clearly shows the two major importing countries continued requirement of black pepper.

Reports emanating from Vietnam says that India will go to the No 1 spot in the month of April as two arms of multinational companies who are having processing facilities in india have picked up 1000 mt for shipment in March and will be reaching the indian shores by mid april. Now that India has become outpriced in the indian market heavily the usual delivery pickers from the national exchange might abstain from deliveries which can create some pressure towards maturity of April contract.
If the indian speculators continue to keep the future delivery prices at a premium the imports of pepper into the country will create a new record in 2010.

Sham Nair