Pepper price remains unstable: Spice Trade Association

Kochi, Mar 6 (UNI) The Indian Pepper and Spice Trade Association today cited that there was wide disparity between NCDEX and NMCE prices on pepper though both were trading on MG-1 quality pepper.

In a statement here, Association President M L Parekh said NMCE was maturing on March 15 and NCDEX on March 20 but there was a price variation of Rs eight on the same grade of pepper to be delivered as MG-1.

Mr Parekh said sub-standard goods were lying in the designated warehouses of NMCE and was the main reason for the market to collapse.

He said the traders were hesitant to take delivery of goods even with the price difference of Rs eight to nine.

The sellers were also incurring heavy expenses towards transportation and other extra charges because of the delay in unloading the goods, he added.

UNI