Commodities

Pepper price firms up on procurement from TN dealers

Our Bureau Kochi | Updated on November 19, 2019 Published on November 19, 2019

Pepper procurement by Tamil Nadu dealers from the primary markets has firmed up prices by Rs 4 per kg on Tuesday, realising an average price of Rs 325 per kg.

It is reported that Tamil Nadu-based dealers from Kambam and Theni also brought garbled pepper at Rs345 per kg from collection centres. There were allegations that these dealers are using this procured pepper to cover up the cardamom consignments brought from the auctions so as to evade tax, as cardamom prices are now ruling high in the recent period.

In Kochi, the quantity traded was 16 tonnes and new pepper was settled at Rs310. However, the upcountry demand was low due to the availability of imported pepper in the consuming markets, the traders said. Out of the imported pepper, there were low grade light pepper and high grade bold pepper as well as de-oiled spend pepper brought at Rs30 per kg, they alleged.

The market is generally firmer and how far it could continue is yet to be known, the traders said.

Quoting statistics from IPC meeting at Vietnam, the farming community said that India had imported 17,800 tonnes during January-October period, the same as the last year level. The imports for value addition and re-exports are still continuing unabated not only from Vietnam but from other countries such as Indonesia, Brazil as well.

According to analysts Acumen Capital Markets Ltd, pepper December futures remain unchanged at Rs317.90 on Tuesday.

Published on November 19, 2019
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