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The inter-state buying by dealers from primary markets has impacted pepper arrivals in Kochi trade on Thursday.
Though the market remained steady at an average price realisation of ₹309 for un-garbled varieties, the off take was only 13 tonnes. According to Kishore Shamji of Kishor Spices, inter-state state dealers especially from Tamil Nadu actively covered the primary markets of Wayanad and Idukki to meet their requirements. Besides, these dealers active participation also resulted in less arrivals in Kochi market. The demand from the consuming market was also limited.
IPSTA Cochin Pepper rate: MG1 : 329; ungarbled – ₹309; new pepper – ₹299.
A trading source pointed out that the demand in the consumer markets in upcountry is not picking up even as January, February, March and April considered as the peak period of demand. Like any other trade, the slowdown in the economy seem to have felt in spice trade also. The closing down of Chinese borders in the wake of coronavirus issues has also started impacting Vietnam pepper prices which came to $1,900-2,100 from $4,800. Farmers there are now holding their stock.
China is a major consumer of Vietnam pepper and trade to that country was standstill now. Last year, Vietnam exported 2,40,000 tonnes and the figure could come down this year. After a bumper crop last year, the 2020 crop in Vietnam is estimated to be lower, the sources said.
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