Black Pepper MGI (indicative export price) - US$ 3525-3550 per ton Fob Kochi port

Futures Contracts (per ton) :
June - US$ 3423 (june futures moved up by 2.06% on today)
July - US$ 3469 (pepper july contracts gained by 2.14% on Indian exchange ncdex)

The pepper futures moved up on today because of good overseas demand and limited supply. Due to downward movement of pepper in last few days, Indian pepper got competitive in international market. As per latest reports, Vietnam has already supplied 60000 tonnes so supply is tight there. This year Vietnam is expected to export 120000 tonnes of pepper in world market. Indian crop is estimated at 55000 tonnes in 2010 whereas it is expected to export around 25000 tonnes. India is a importer also and is expected to import around 14000 tonnes. Sri Lanka, Indonesia and Vietnam are the major sources for Inida.

Earlier this week, Vietnam 550 g/l July delivery was getting quoted at US$ 3325 pmt fob HCMC port while 500 g/l was at USD 3150 fob per ton. Brazilian origin 550g/l was available at USD 3425 per ton fob Belem and 500 g/l for US$ 3250 fob per ton for July delivery.

Cumin seed Futures Prices (per ton) :
June - US$ 2480 (cumin seed futures went down by 0.75% on today)
July - US$ 2538 (cumin july futures dropped down by 0.72%)

The higher output concerns once again pulled cumin seed downwards and so did profit booking by the commodity traders. The prices of Syrian and Turkey origin are at present getting quoted below Indian cumin seed putting additional pressure on prices at present.

As per reports, the world market for cumin in 2010 is estimated at 75600 tonnes of which India is expected to export 60% followed by Syria at 13.23 percent, Iran 6.9 per cent, Turkey 6.5 per cent and others 13.23 per cent. Other major producers are China and Pakistan but they have high local demand too. Indian production is estimated to be 174000 tonnes in 2010 up from 162000 tons last year.