Srilanka Bomb blasts push pepper price higher

After series of bomb blasts in Sri Lanka on Sunday, pepper prices in India rose by around Rs 20/kg to Rs 320. Prices are expected to increase further, since the import from the neighbouring country is likely to slow down. This has led to  buyers blocking stocks from the domestic buyers even before the spice arrives in the market. 

“Since prices are expected to increase further many of the buyers are making payments (at today’s price) two months ahead (for June delivery),” said a buyer.

Also read  ಮಲೆನಾಡಿನಲ್ಲಿ ಮಂಗನ ಕಾಯಿಲೆ:ಇರಲಿ ಎಚ್ಚರ

It is expected to increase by another Rs 30 in the next three months,say pepper growers and buyers.

According to domestic pepper growers, prices dropped to Rs 300 in 2019 from Rs 400 in 2018. In the last five years the highest was in 2015 when prices were around Rs 700 a kg. After this prices started dropping due to import of Vietnamese pepper through Sri Lanka.

Also read  India and Vietnam lift import bans on coffee, pepper