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Monday, August 9, 1999
Kochi pepper market volatile
Our Bureau
Kochi: Black pepper prices went on a roller coaster ride in Kochi pepper market during the week ended Friday on hectic shortcovering and erratic enquiries from major consuming countries. The market ruled week for the first three trading days but regained its lost ground and closed the week at higher levels. "Lack of selling pressure coupled with short cowering sent the price on a tail spin during the week", a Kochi-based trader said. He said with the export till date put at 35,000 tonnes through July and the domestic consumption put around 20,000 tonnes the carryforward stock is at manageable level till the new crop arrives in January, he added.Farmers slowly started bringing their stock into the market as the prices are ruling on the higher side. An imminent threat from other major producing countries is also unfounded, traders say. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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