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G.K. Nair

Cites lack of funds as reason. The suspension has led to selling pressure, though the market intervetion failed to have the desired impact.

Kochi , April 18

THE Kerala State Co-operative Marketing Federation (Marketfed) has suspended procurement of black pepper for want of funds.

The State Government had appointed Marketfed for procuring pepper directly from growers as a market intervention exercise to arrest the fall and to push up the prices of pepper.

The Federation, through its network in the pepper-growing districts, has procured around 4,800 tonnes of black pepper, valued at about Rs 36 crore, at Rs 75 a kg.

"But the money has not been received from the Government so far and the last date was April 15," the Chairman of Marketfed, Mr P.P. Thankachan, told Business Line.

Further, procurement could be commenced only after receiving the money for the pepper already procured and for future procurements, he said

Marketing sources here, however, said the suspension had led to selling pressure in major growing districts of Idukki and Wayanad in the State.

According to them, the market intervention exercise failed to make the desired impact in the market because of the availability of Sri Lankan pepper at low prices in the domestic market.

Hence, before embarking on procurement, the Government should have taken some serious measures to arrest the inflow of imported pepper to the domestic market, they alleged.

Add to this, the upcountry buyers continued to be inactive due to VAT-related issues. International operators are also waiting for prices to fall further, they said.

The spot prices remained steady on Monday while the futures witnessed marginal fluctuations.

Prices of ungarbled and garbled on Monday at the terminal market were Rs 6,400 and Rs 6,800 a quintal.

Futures prices were: May Rs 6,979 a quintal as against last Saturday's Rs 6,960, June Rs 7,003 (Rs 6,983), July Rs 6,816 (Rs 6,797), August Rs 7,256 (Rs 7,236), September Rs 7,359 (Rs 7,339) and October Rs 7,571 (Rs 7,550).

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