Agri Business

Pepper arrivals to Kochi impacted on Government's RCEP decision

V Sajeev Kumar Kochi | Updated on November 05, 2019

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The Centre’s decision not to sign RCEP has made a positive impact on pepper trade especially among growers and the trading community as a whole.

The weakening threat of RCEP has given the confidence to growers to hold back their produce to garner a better price in the coming weeks. This has impacted arrivals from the primary markets to Tuesday’s auction and the quantity on offer so far was only 10 tonnes, Kishore Shamji of Kishor Spices said.

The pepper market, therefore, is likely to be firmer today, he said.

Earlier, there was a concern in the market that RCEP would pave the way for more arrivals of Vietnam pepper in bulk quantities in the domestic market. With this decision, growers are also expecting some positive actions from the government on the pepper imports at MIP of Rs 500 per kg, he said.

Cardamom prices likely to rule steady

Cardamom prices are likely to be steady on account of a comfortable arrival of 68 tonnes for both the trading sessions at Bodinayakanur auctions.

Arrivals were good as far as this season is concerned and the prices are likely to hover in the range registered in the previous days. There is no active participation from North Indian buyers as they are adopting a wait and watch approach anticipating a drop in prices. There is active involvement of stockists in the auctions and this may lead to more accumulation of the crop, traders said.

The quantity on offer in the morning auctions to be conducted by Sugandhagiri Spices Promotions was 27 tonnes. In the afternoon auction, the quantity on offer was 31 tonnes and the auctions will be conducted by SpiceMore Trading.

According to analysts at Acumen Capital Markets, the dry weather conditions in the main growing regions continue to support the bullish sentiments. The market, which has been witnessing a rising trend, is expected to trade sideways depending on arrivals.   

Published on November 05, 2019

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