Commodities

Rumours of pepper import move hit prices

V Sajeev Kumar Kochi | Updated on February 19, 2020 Published on February 19, 2020

Pepper prices in Kochi was down by ₹1 per kg on the back of rumours of move to issue licence for import of 2,500 tonnes of pepper as well as of lifting the minimum import price restrictions on the Sri Lankan commodity.

Because of such rumours emanating from the ongoing Gulf Food Expo in Dubai, many local brokers who work as intermediaries are advising upcountry buyers to desist from buying. They are even advising primary market dealers to liquidate stocks, as is evident from increased arrivals of 40 tonnes in Kochi terminal market, said Kishore Shamji of Kishor Spices.

The average price realised for ungarbled varieties was ₹319, while MG1 garbled was quoted at ₹339. New pepper price stood at ₹309.

Since the Vietnam pepper harvest is around the corner, Shamji said, they are now looking at the Indian market in a big way because of the coronavirus scare in China, which has been their main market in the last two years.

According to Shamji, the existing extreme weather is also playing spoilsport on the prospects of pepper farmers as vines have been affected badly in rising temperatures. They hope the government will not permit unnecessary pepper imports.

Published on February 19, 2020
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