Commodities

Limited arrivals lift pepper prices

V Sajeev Kumar Kochi | Updated on February 18, 2020 Published on February 18, 2020

The estimated import of pepper into India in 2018-19 was 24,950 tonnes compared with 29,650 tonnes in 2017-18, registering a decline of 16 per cent

Limited arrivals lifted pepper prices in Kochi by ₹1 a kg on Tuesday.

The offtake was 11 tonnes and the average price realised for ungarbled varieties was ₹320 a kg. MG1 garbled varieties was quoted at ₹340, while new pepper traded at ₹310.

According to traders, Tamil Nadu dealers continue to be active in the primary market and they are trading the commodity at terminal market prices. This was the main reason for lower arrivals in terminal markets. Farmers are also holding stocks, anticipating a further hike in prices.

Meanwhile, there are rumours of a likely withdrawal of both minimum import price of pepper from Sri Lanka as well as concession of duty from Vietnam. This has forced majority of buyers to stay away from the market, which is evident from the limited participation of buyers, traders said.

Traders warned that lifting of such restrictions would be detrimental to the domestic pepper growers.

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Published on February 18, 2020
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