KOCHI,INDIA : India Pepper market is passing through a bleak phase with buyers keeping away from a bearish market expecting further price slump.
Bearish sentiments and limited activities pulled down spot pepper prices on Thursday. On the terminal market, 12 tonnes of pepper arrived and they were traded at Rs 690-695 and Rs.700 a kg.
Bearish sentiments and limited activities pulled down spot pepper prices on Thursday. On the terminal market, 12 tonnes of pepper arrived and they were traded at Rs 690-695 and Rs.700 a kg.
On the IPSTA platform, all the active contracts remained unchanged. Spot prices fell by Rs 500 to ₹69,300 (ungarble) and Rs 72,300 (garbled) a quintal. Export prices were down to $11,900 a tonne cf for Europe and $12,150 for the US.
This year, however, the production is estimated to go up 33 per cent to 60,000 tonnes, due to bumper crop in Karnataka.
The Free Trade Agreements(FTA) with Sri Lanka and Nepal on pepper imports are causing immense damage to India's domestic market. Traders have alleged the FTAs are being violated and cheaper imported pepper is flooding the Indian market.
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