Agri Business

Pepper prices bottomed out, set to move forward

V Sajeev Kumar Kochi | Updated on March 11, 2020

Pepper prices seem to have bottomed out because of the presence of more buyers than sellers in the physical market.

According to traders, the prices are likely to remain steady in the coming days depending on Ugadi demand and other festivals during mid-April. The prices are expected to move in line with demand since the supply side is getting more tighter, they said.

Kochi pepper prices remained steady at ₹299 for ungarbled varieties and the entire quantity of 38 tonnes offered was traded. MG-1 garbled grades fetched ₹319, while new pepper was sold at ₹289.

Kishore Shamji of Kishor Spices pointed out that the farmers/dealers, who are in a hurry to sell pepper for the last few days, have slowed down. It is reported that these farmers/dealers have paid back their agriculture loans in February itself to get a bonus on interest and those who pay on or before March 15 also received some benefits on interests as well as fresh loans on April 1.

The dealers who have to pay advance income tax on or before March 15 were also going slow on their buying. However, sellers who are offering pepper have insisted for March delivery/March payments in view of the financial year ending, he said.

Published on March 11, 2020

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