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Pepper growers move to liquidate their current stocks has witnessed more arrivals to Kochi trade on Monday.
Though the market received 27 tonnes, the prices continue to remain at the same level at Rs 333 for ungarbled grades quoted in the last few days. Coorg pepper with low bulk density and high moisture was traded at Rs 320 per kg; 550 gl at Rs 335 and high range Idukki pepper at Rs 340 per kg.
There were reports of selling pepper to Tamil Nadu based dealers by primary market dealers at Rs 335 per kg bypassing the terminal markets.
Kerala farmers are hopeful of bringing new pepper into the market in the next two to three weeks, as new spikes are getting maturity and fit for plucking shortly, said Kishore Shamji of Kishor Spices.
Similarly, Karnataka farmers/planters are also looking for buyers to pick pepper from their estates which was lying for more than 3 years on the hope of realising better prices. With the current crop season looking satisfactory, they are also in a mood to part with their stock at the current price levels, he said.
IPSTA Cochin Pepper rate. MG1- Rs 353 per kg; un-garbled Rs 333; New Pepper – Rs 318 per kg.
Pepper January futures remain unchanged at Rs 340 on Monday, said trade analysts Acumen Capital Markets.
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