Pepper trade in Kochi terminal markets witnessed no arrivals on Monday due to direct trading in primary markets (collecting centres from farmers).
There were reports of direct trading at primary markets by Tamil Nadu based dealers at Rs 330 per kg, Kishore Shamji of Kishor Spices said. If the growers can sell their commodity in primary markets, whey should they carry their stock to the terminal market in Kochi for trade. However, it could not be said that a similar situation may arise for tomorrow's trade, he said.
Moreover, the difference between buyer and seller price also resulted in the absence of the trade in Kochi. The buyers are quoting at Rs 322 per kg, while sellers rates are at Rs 325 per kg, he said.
The concern on global surplus stock announced at the IPC meeting in Vietnam has also started waning, as the farming community maintain that the carry forward stocks are unbelievable and non realistic.
Meanwhile, the Spices Board in its report submitted at the IPC meeting, pointed out that the Indian pepper production is likely to end with 48,000 tonnes this year (2019-20) compared with 4.94,200 tonnes of world production. The Board has also projected around 60,000 tonnes of black pepper production and an import of 12,000 tonnes for 2020.
It may be recalled that India had harvested 64,000 tonnes of pepper in 2018-19. The growers were of the view that the present climatic conditions are favourable for new crop.