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Commodity Tips, Further surge in pepper prices after minimum import price imposed
India's demand for pepper has been increasing at around 4% annually
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The prices of pepper have risen by another Rs 80 per kg in the past 10 days, an unprecedented pace, say growers. This follows the announcement of a minimum import price (MIP) for import, announced early this month. Right after, domestic pepper rose 10-12 percent to Rs 420 a kg on December 12.
Rohan Colaco, former executive committee member, Karnataka Planters' Association, and a major grower, says the price of black pepper is Rs 500 a kg at most physical terminals. Two weeks earlier, it was Rs 380 a kg. There is good demand and there seems a supply squeeze, with about 40 percent of farmers keeping back produce (the other 60-odd percent have sold) in the expectation of the price touching Rs 600 a kg.
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