Agri Business

Trade hartal halts pepper trade in Kochi

Sajeev Kumar Kochi | Updated on October 29, 2019

Pepper trade in Kochi was suspended on Tuesday, following the closure of the Hill Produce market in view of a trade hartal called by the Kerala Vyapari Vyavasayi Ekopana Samithy, against the issuance of notices for VAT arrears by the State’s Tax Department.

Kerala Merchants Chamber of Commerce said that the VAT arrears notices were not in line with the facts, and that the traders had submitted their complaints at the state-level. However, the authorities continued to issue notices, and creating confusion and fear among traders.

NA Varkey of the Cochin Hill Producers Merchants Association pointed out that the trading community is undergoing a severe crisis due to an economic slump. At this juncture, the acts and assessments will only add to the mental and financial agony of the trade, he said.

Low arrivals support cardamom market

Lower arrivals continued to support the positivity in cardamom prices at the auctions held at the Spices Park, Puttady, on Tuesday.

Though market was steady and strong, sellers are on a 'wait and watch' mode, holding their stocks, anticipating better prices.

Traders pointed out that the upcountry demand has not yet started, as farmers are still on a holiday mood post Diwali.

In the morning auctions conducted by Spice More Trading Company, Kumily, the entire quantity of 15 tonnes was sold. It is a positive sign as far as the trade is concerned, traders said. The average price realised was Rs 2,434/kg, and a particular lot garnered a maximum price of Rs 2,712/kg.

Of the 19 tonnes on offer in the afternoon auctions conducted Sugandhagiri, around 17 tonnes was sold. The average price realised was Rs 2,491/kg, while a particular lot received a maximum price of Rs 3,122/kg. However, pooling in both the auctions was affected by the hartal on Monday, as it affected arrivals from Tamil Nadu regions.

Published on October 29, 2019

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