Pepper prices rise 15% amid lockdown on hope of healthy post-monsoon sales

Topics Coronavirus | pepper | Lockdown

Some farmers who had finished harvesting had sold in panic.
Pepper prices have turned buoyant again rising by as much as 15 per cent in India to Rs 325 per kg from Rs 285 earlier. 

Rohan Colaco, a planter from Karnataka and a member of Karnataka Planters Association, said that pepper prices had been sliding prior to the lockdown. The spice was trading at around Rs 285 a kg and was expected to go down to Rs 260.

Some farmers who had finished harvesting had sold in panic. Also there was unripe pepper wine harvest and selling this year. After the lockdown, the prices opened at Rs 305.

"It is expected that there will be no inward movement of pepper through international borders. There is also good demand for high quality Indian pepper. Many farmers are keeping stocks to sell after the monsoons as winter demand will start strengthening. These reasons are pushing pepper prices up," said Colaco. 

He added that the spice had hit a high of Rs 330 about a year back. He believes pepper may approach this price as there already exists a huge stock of imported pepper.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel