Kochi: Black pepper prices remained high throughout the week ended June 19 carrying over the buoyancy from last week. Only towards the end did it witness a marginal fall in price by Rs 40.The supply scene was better with a slight respite from rains. About 300 quintals arrived at the beginning as also towards the end of the week. The offtake, however, did not match the supply scene. Traders expect the market to remain buoyant in the coming week as well.
The heavy rains in the previous weeks is likely to affect production for the coming months, the market circle feels.
The uptrend in the global market, following tight supply from Malaysia had also helped the Indian pepper to firm up, they added.
The US and European buyers were very active on the Indian supply improving. Their stocks had depleted and India was the only place where the stock was ready. They were following a hand-to-mouth exercise expecting the prices to come down, following record output in major developing countries.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.