Ʒ Demand remains low at Kochi pepper auctions - The Hindu BusinessLine

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          Commodities

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          V Sajeev Kumar Kochi | Updated on January 30, 2020 Published on January 30, 2020

          The availability of smuggled pepper in the consuming markets has suppressed the demand for domestically grown varieties. This was evident in the pressure on prices in Kochi, which reported a drop of ₹2 per kg on Thursday.

          Traders said buyers were hesitant because of the availability of smuggled pepper at ₹300-325 per kg at their doorstep, with a claim of paying GST. There were also reports that these are smuggled varieties coming illegally through the borders without any bills and traded in cash and carry mode.

          However, the price of pepper available from the terminal markets would come around ₹340 per kg after paying GST, transportation, packaging, forwarding charges etc, said Kishore Shamji of Kishor Spices.

          It is alleged that dealers in the consuming markets are also interested in cash and carry business, which is an indication that the GST administration is not effective in these markets, he said.

          The average price realised in Kochi for ungarbled was ₹314 per kg, while MG1 quoted ₹334. New pepper stood at ₹304. The offtake was 22 tonnes.

          According to Shamji, the arrivals would start picking up in the coming days from Wayanad and Karnataka with the commencement of harvest in these growing regions by next week. However, it is to be seen whether farmers will be interested in selling the produce at below ₹300 a kg.

          Published on January 30, 2020
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