Commodities

Strong buying keeps pepper prices up

V Sajeev Kuma Kochi | Updated on June 04, 2020 Published on June 04, 2020

Pepper market has started witnessing a good buying, thanks to the picking up of domestic demand in the last few days.

The market was up by ₹1 per kg at ₹315 on Thursday for ungarbled varieties on an off-take of 13 tonnes. Since more lockdown relaxation news is expected by June 8, the domestic demand is likely to pick up from all sectors, said Kishore Shamji of Kishor Spices.

However, the market is presently witnessing a firming trend as many end-users are showing interest to cover in quantity. This trend will keep the prices firm in the local front, he said.

It is reported that good buying interest shown by primary market dealers is giving bullish news on the possibility of prices moving up further. On the other side, traders suspect that these dealers are from Kerala and Tamil Nadu, who have recently entered into a contract to import pepper under SAFTA, Shamji said.

Reports are rife that they are trying to keep the local prices upwards to protect their larger interest in quantities so that they can release the imported stuff easily on its arrival. Since the availability is limited, these dealers are successful so far in moving up the price for the last two weeks by ₹10 per kg till today, he added.

Published on June 04, 2020

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