The pepper prices in Indian market once again went up after dropping down yesterday due to buying at lower levels. With Vietnam slowing down, the supply situation is expected to be tight and there is international demand for Indian pepper. The global crop this year is expected to be lower. Indonesian crop size is estimated at 22000-25000 tonnes while Brazilian pepper production is estimted at 30000 tonnes. Indian production in 2010 is estimated to be 55000 tonnes while its consumption is expected to be around 44000 tonnes.

Black Pepper MGI (indicative export price) - US$ 3500-3525 per ton Fob Kochi port

Futures Contracts (per ton) :
June - US$ 3388 (june futures moved up by 0.88% on today)
July - US$ 3442 (july contracts increased by 0.81% against previous close)

The projected world consumption of pepper for 2010 is 320000 tonnes. Asian countries are expected to be the biggest consumers with 123000 tons followed by U.S. and Canada at 75000 tons, Europe 70000 tons, Middle East & Africa 33000 tons, South America 15000 tons and other nations 4000 tons. The world supply of pepper is expected to get tighter in the second half of 2010 and the market expects pepper to be in bullish phase during that time.

Vietnam origin was indicatively getting offered at US$ 3550-3600, Indonesia at US$ 3300-3500 and Brazalian pepper at USD 3450-3500 per ton on fob basis.

Cumin Seed futures prices
The cumin seeds futures were marginally up today.

As per reports, the world market for cumin 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. Syrian cumin production is estimated at 20000 tons while Iran and Turkey at 15000 tons each.

Indian Turmeric : June - US$ 3130 per ton (june futures were up by 4%)
July - US$ 3146 per ton(july contracts were up by 4%)

The turmeric prices on today touched the upper circuit of 4%. The prices of turmeric in Indian market has remained higher for last few months and farmers have reaped rich benefits from the higher prices. Last year, turmeric harvest was down due to lower prices during 2008-09 but this year there was estimated increase of 15% in acerage year. India is the world's largest producer and exporter of turmeric. India's turmeric production in 2010 is estimated to be around 350000 tonnes. The turmeric exports for April-feb 2009-10 dropped by 6% to 46000 tonnes from 48850 tonnes during corressponding period last year.

U.A.E., Japan, Iran, Malaysia, U.K., U.S.A., Sri Lanka, Bangladesh, South Africa, Egypt, Germany, Morocco, Netherland, Saudi Arabia, Denmark and Singapore are major destinations for Indian turmeric.