On Friday, the volume of traded goods fell by 13 tons, keeping pepper prices at Kochi stable, according to news from Business Line.
Kochi Exchange – India
The market accepted an average price of Rs 309/kg for bucket pepper, while the price of MG1 was selected at Rs 329/kg. New crop is also offered at Rs 299/kg.
According to Kishore Shamji, owner of Kishor Spices, farmers do not want to sell new-season pepper at a lower price even though the big dealers of the market have come to the farm gate. Traders with processing facilities in Tamil Nadu also look to the main pepper growing regions in Gudalur and Erode for commercial activities.
It is further reported that some federal agents in Kerala have started to move their processing facilities to Tamil Nadu due to the availability of cheap labor and lower freight rates, compared to the prices in the Kerala market, Shamji said.
It is known that federal pepper processing facilities are currently concentrated in Tamil Nadu because of government incentives such as GST (goods and services tax) exemption and subsidies, Shamji added that traders Karnataka-based individuals that pay APMC are also moving in.
Meanwhile, demand in the domestic market continues to be low due to smuggled Vietnamese pepper. Most of these transactions have evaded GST, which is a major threat to pepper communities, both farmers and producers as well as traders in the main pepper growing regions of Karnataka and Kerala.
According to the weekly report of the International Pepper Community (IPC), the price of Indian Malabar bucket pepper is currently fluctuating at $4,337/ton and Indonesian black pepper at $1,752/ton, down 2% compared to Last week, while Vietnamese black pepper was priced at 1,635 USD/ton, goods were delivered at export ports.
According to observers, the price of Vietnamese bucket pepper is quite low because the delivery is mainly light bucket.
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