The pepper farming community has reiterated their demand to curb the rising Sri Lankan imports of the spice at minimum import price so as to save the country’s foreign exchange outflow.
Of the 57 tonnes offered in Kochi pepper market on Wednesday, 40 tonnes are imported stuff from the neighbouring island nation, said Kishore Shamji of Kishor Spices.
The market was up by ₹1 per kg for ungarbled varieties at an average price of ₹318 per kg. Processors who have commitment for delivery were seen covering the available quantity at sellers demanded prices, he said.
The rising imports is a concern and in July alone 738 tonnes have arrived. If calculate at $4,000 per tonne over invoicing, the amount would worked out to be $29,52,000. The drain out of foreign exchange was ₹22.14 crore at 75 per dollar exchange rate, Shamji said.
The authorities should take up some serious measures to stop such unrestricted imports for the benefit of the farming community. The total quantity of such imports from Sri Lanka between January-July was 1,455 tonnes, he said.