Reports estimate that this year’s total production will be slightly less than last year’s total, by some 2%. With Indian Piperita prices rising and less availability, increased demand for U.S. oil is anticipated. Pricing now is stable.
Aug 1st, 2017
On July 1st a Goods and Services Tax (GST) went into effect, at a rate of 12%. Impact on pricing is what one would expect. With less acreage planted, increased strength of the Rupee and this new tax, prices have changed weekly. Several producers anticipate prices to continue to rise for some time.
Jul 5th, 2017
Reports from India continue to state that total production this year will be down. There is also the question of quality surfacing, as reported by the Indian producers themselves. With the current strength of the Rupee to the dollar, prices have firmed. U.S. growers have also indicated that their prices this year will be higher than last year.