Commodities

Selling pressure lifts pepper price by Rs 2 per kg

Our Bureau | Updated on November 21, 2019

Despite a firm market, a selling pressure from growers in Wayanad and Coorg lifted black pepper prices in Kochi by Rs 2 per kg.

Out of the 8 tonnes offered, the average price realised for ungarbled variety was Rs 327 per kg, in spite of facing a tight supply. Garbed pepper price rose to Rs 347 per kg, and new pepper was settled at Rs 312.

The growers from these regions wanted to sell their stock at Rs 330 per kg, but buyers are willing to take the commodity only at Rs 325. High range pepper sales were around Rs 335, but buyers quoted lower at Rs 330 per kg.

Kishor Shamji of Kishor Spices said that there were information from some end-users in north India on receiving pepper at Rs 315. This could be be an imported stock of importers based in Chennai and other upcountry markets.

The farm gate procurement of pepper in primary markets in Idukki are still continuing, but the Tamil Nadu based dealers have reduced the rates of their intake by Rs 5 on Thursday. According to reports from growers there, the rates quoted on Thursday was Rs 335, against the level of Rs 340 in the previous day.

It is pointed out that majority of the growers have interested in farm gate sales to avoid meeting additional expenditure by way of of logistics cost, and other overhead charges in Kochi market. 

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

Published on November 21, 2019

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