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Journalism of Courage
Black pepper prices continued to suffer for the second consecutive week during period ended June 6. After losing moderately — both in the ready and futures category — between May 25 and 30, pepper prices further softened last week with spot pepper shedding Rs 100 a quintal.
The week closed with spot pepper ruling at Rs 20,700 a quintal, Rs 100 down from the previous close of Rs 20,800. This despite the prices having picked up on June 1 to touch Rs 20,900. Throughout the week spot pepper price fluctuated between Rs 20,900 and Rs 20,700. The effect of sanctions against India (after the Pokhran blasts) has apparently dissipated but traders said that there were speculators trying to hammer down prices. He, however, said that there would be no long-term effect on pepper trade as it was a commodity sourced mainly from India. US and European buyers are still shying away from the market.
