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Pepper prices moved up by Rs6 per kg for all varieties at Kochi trade as sentiment turned positive following the developments in RCEP.
Arrivals has also improved in the afternoon, registering 30 tonnes for the trade. But there are more buyers than sellers in the market. Kishore Shamji of Kishor Spices said that majority Kerala farmers, who are aware of the developments connected with RCEP, have decided to hold up their stocks anticipating a further increase in prices.
However, majority of pepper traded in Kochi are Vietnam imported one and has realised a price in the range of Rs295 to Rs315 per kg. The average price of ungarbled was quoted at Rs305 per kg and MG1 variety garbled received a price tag of price Rs325.
Inter-state dealers who have committed to cover their sales could not meet their requirements because of limited sellers in the market. Speculators who anticipated signing of RCEP and a further decline in prices suffered loss, Shamji said.
The pepper trading community as a whole has supported the government decision on RCEP and demanded the government to stop the minimum import price also till the domestic pepper price touches Rs500 per kg, he added.
Upward trend halted for cardamom
A comfortable quantity on offer seems to have put a pause on upward price trend in today's cardamom auctions.
The rising trend on prices was not seen in the auction held at Bodinayakanur and the market was on a steady mode due to lesser arrivals.
According to traders, the market has been witnessing a rising trend of about Rs100 per kg in the last few days because of lesser arrivals. But a comfortable quantity on offer in today's auction had an impact on this rising trend. The participation of North Indian buyers are also limited as they are looking at a further drop in prices.
The quantity on offer in the morning auctions conducted by Sugandhagiri Spices Promotions was 27 tonnes. The average price realised was Rs2676 per kg and a maximum price realised for a particular lot was Rs2892. There were 171 lots in the auctions.
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