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Pepper prices are showing a firm trend of rates moving northwards, prompting farmers to hold on to their stocks in anticipation of further spike.
Prices in Kochi were up by ₹2 per kg on Monday with the rates of ungarbled varieties quoting at ₹319 per kg. MG1 garbled realised ₹339, while new pepper was quoted at ₹309. The offtake was 14 tonnes.
The majority of the farmers are not releasing their newly plucked crop into the market. They are holding back on the assumption that climate change is going to affect the standing crop. Primary market sale of pepper by dealers in Tamil Nadu at terminal market rates has also resulted in the upward trend in prices, said Kishore Shamji of Kishor Spices.
The farming community here is not worried about the import lobbies declaration on the expectation of Vietnam crop by March as well as the ensuing Sri Lankan harvest. They are confident that Indian domestic prices could maintain a price level of above ₹300, especially with the farmer-friendly approach of the government in fetching a better returns for them.
However, their biggest worry is the import of pepper for re-exports by EOUs for value addition as well as dumping of de-oiled or spent pepper imported dutyfree by extractors.
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