Trade sources said growers seem willing to hold on to their stocks despite the softening of prices recently. They said, according to the preliminary estimates the fresh season due to begin in December would bring a large upcoming.

Traders also said that contrary to earlier reports the crops in Indonesia and Brazil was even better compared to last year. This had hit the prospects of Indian pepper in the international market, they added.

According to Spices Board sources the Lampoong production now under way is estimated to be about around 20,000 MT, half of which has been been already contracted either for exports or internally.

Sources also said that the exports to the United States, one of the major market for Indianpepper, had registered a fall to the tune of nearly 10 per cent in 1997-98. An amount of 42,344 tonnes of spices were exported to the US in 1997-98 at a value of Rs 424.69 crore against 46,872 tonnes in 1996-97 at Rs 417.75 crore.

In 1997, the total US imports were 290,200 tonnes valued at $ 550 million, whereas in the preceding year the exports valued at $ 499.6 million amounted to about 304,300 tonnes. The quantity imported by US in 1996 was 16 per cent higher against the previous year.