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Pepper prices continue to witness a downward trend in the past five days with rates dropping by about ₹6 per kg. Traders attribute the reason to more availability of the commodity including that of imported stuff.
The market in Kochi was down by ₹1 on Tuesday, quoting ₹309 for ungarbled on an off-take of 26 tonnes. The price drop has forced buyers to stay away. Those processors who have committed/sold to end-users are covering brisk of available quantity, said Kishore Shamji of Kishor Spices.
The presence of more sellers from Karnataka has, in turn, been influencing Wayanad dealers to sell. This has also forced Idukki dealers as well to liquidate their stocks.
The commodity which is arriving this week has 1 to 1.5 per cent more moisture content. It is to be noted that many Kerala dealers, who are involved in imports, are seen active in the market to liquidate their imported stock. This indicates that more imported stuff to the domestic market are in the pipeline, which is a cause of concern for the farming community, Shamji said.
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