Considering that the grain is a bit convoluted in that area, I think it is more likely that this is a small inclusion in the wood. It is most evident in your first photo, behind the popped finish, just forward of the checkering.
Inclusions are most often seen in more figured wood, and are often referred to as bark inclusions. Pitch pockets are commonly seen in pine wood. Knots sometimes emerge as a stock is carved. Often, there are no noticeable defects on a stock blank, but during turning or carving, a hidden defect will show up. Sometimes the defect is bad enough that the stock is scrapped. Some wood dealers offer a refund or exchange if a hidden inclusion or defect emerges during turning. Sometimes a small defect such as this ends up being finished and sold. Often, the stockmaker will attempt to repair or otherwise hide the defect.
