Pepper crop delay raises futures prices

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