04 March 1998
Pepper crop delay raises futures prices
A TWO-WEEK delay in this years black pepper crop is contributing to a price rise on Indias international pepper futures exchange.
The May contract has gained 6.25% over the past week to Rs18,400 ($465) a quintal.
Exporters have stepped up buying to fulfil their commitments and this will
also keep prices buoyant according to trade officials.
India hopes to harvest a crop of 60,000 tonnes in 1998-99, boosted by the
monsoon and October rain. But it has been delayed by about two weeks because of a late start to the monsoon season.
- Financial Times 04/03/98 page 37