Black pepper prices turned positive on RCEP opt-out

Black Pepper prices moved up for all varieties at Kochi trade as sentiment turned positive after India decided to withdraw from the 16-member mega regional free trade agreement,the Regional Comprehensive Economic Partnership (RCEP).

Kishore Shamji of Kishor Spices said that there are more buyers than seller in market,majority Kerala farmers, who are aware of the developments connected with RCEP, have decided to hold up their stocks anticipating a further increase in prices.

The arrivals was at a comfortable level at 20 tonnes and the demand was good. However, sellers are limited because they are expecting that prices would go up.

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Majority of the quantity traded today was Sri Lankan pepper. The garbled MG 1 variety fetched a price tag of Rs325 per kg.

The pepper trading community welcomed the government decision on RCEP and demanded the government to stop the minimum import price till the domestic pepper price touches Rs 500 per kg.

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Source: BusinessLine