Lower arrival has lifted pepper prices in Kochi by ₹1 per kg with an offtake of hardly six tonnes.
The market has realised an average price of ₹311 for ungarbled varieties, while MG1 garbled varieties had garnered ₹331. New pepper was quoted at ₹301.
According to traders, farmers are not keen on selling at declining prices. This, coupled with the decision of primary market dealers to sell the commodity for inter-state business, especially to Tamil Nadu and other places, was also a reason for lower arrivals in the terminal market.
Kishore Shamji of Kishor Spices said upcountry demand was low and the January imports from Sri Lanka for domestic use have shown that the figure has come down considerably at 67 tonnes. Of this, a Delhi-based dealer bought 45 tonnes for selling the commodity in the capital city and surrounding markets. However, the imports for re-exports was 1850 tonnes, he said.
Traders, quoting Vietnam Pepper Association, said demand from pepper-consuming countries has not yet improved. On the world market, pepper output is likely to increase in some major producing countries.
Trade analysts Acumen Capital Markets Ltd said pepper March futures were unchanged at₹340.05 at close on Friday.