Spices industry waits for sops from the Centre’s economic package

Sajeev Kumar | | Updated on: May 13, 2020

The spices industry is looking at a favourable announcement from the Finance Minister pertaining to the repayment of loans, especially for SME sick units that came under the NPA net.

Despite a selected demand in the market, Kishore Shamji of Kishor Spices pointed out that labour shortage and deployment of limited office staff — in line with the government norms — is posing a major problem for spices producing companies.

He said that there was a rise in pepper arrivals to the market on Wednesday, as farmers were liquidating their stock to repay their loans.

Pepper arrivals to Kochi was 38 tonnes mainly from Wayanad and the High Ranges. But the prices was was down by ₹1 per kg at ₹308 for ungarbled varieties due to more arrivals.

The market, he said, is likely to continue on a steady mode with minor adjustments from both sides. Buyers are unable to get discounts, nor sellers a premium rates for their produce. Moreover, farmers are unwilling to part with their stocks at the discounted levels and therefore the supply and demand is balanced.

Published on May 13, 2020
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