Home News-Articles Second Covid wave affects spices trade in Kerala, pepper loses steam

Second Covid wave affects spices trade in Kerala, pepper loses steam

by mohan

Cardamom witnessed a decline of ₹400 per kg

Kerala’s spices trade – especially pepper and cardamom – has started bearing the brunt of the second Covid-19 wave with reported decline in prices for both the commodities following a subdued upcountry demand.

Pepper prices dropped by ₹8 per kg in the last three days with the average price falling to ₹384, while cardamom witnessed a decline of ₹400 with rates reaching ₹1,100 from ₹1,500 a fortnight ago. This is one of the lowest prices, raising a concern among cardamom trade on the possibility of a further drop.

The movement restrictions imposed by several state governments have slowed down the buying activities of consuming industries in the upcountry markets of Maharashtra, Gujarat, Delhi, Uttar Pradesh etc, hitting the prices of these commodities badly.

A cardamom auctioneer in Vandanmedu told BusinessLine that the market is witnessing heavy selling pressure with an average daily arrival of 100-150 tonnes to the trading platform in the wake of concerns over Covid pandemic that forced planters to sell off their holding stock. There are even repeated requests to stop the auctions for the time being to arrest a further price crash, he said.

Kishore Shamji of Kishor Spices in Kochi said the restrictions coupled with the increased availability of imported Sri Lankan pepper have made its dent on prices. Import prices of pepper have also come down to ₹385 at a time when Sri Lankan imports are on the rise with total imports touching 1,285 tonnes in March.

 

Source: https://www.thehindubusinessline.com/ma

Related Posts


Warning: file_get_contents(index.php): failed to open stream: No such file or directory in /home/u463707098/domains/spicesinfo.com/public_html/wp-includes/plugin.php on line 452

Warning: file_get_contents(index.php): failed to open stream: No such file or directory in /home/u463707098/domains/spicesinfo.com/public_html/wp-includes/plugin.php on line 452

Warning: file_get_contents(index.php): failed to open stream: No such file or directory in /home/u463707098/domains/spicesinfo.com/public_html/wp-includes/plugin.php on line 452

Warning: file_get_contents(index.php): failed to open stream: No such file or directory in /home/u463707098/domains/spicesinfo.com/public_html/wp-includes/plugin.php on line 452

Warning: file_get_contents(index.php): failed to open stream: No such file or directory in /home/u463707098/domains/spicesinfo.com/public_html/wp-includes/plugin.php on line 452