Mattancherry: The Indian Pepper and Spices Trade Association (IPSTA), based in Kochi, is spearheading the shift of the country's pepper trade to an online platform. This move aims to enhance transparency and efficiency in the pepper market.

Previously, Kochi had witnessed online holiday trading which was discontinued later. Now, after conducting scientific tests, pepper will be stored in warehouses designated by IPSTA for online trading purposes. The association has established systems to facilitate this transition.

One notable feature of this online trading platform is transparency, benefiting both farmers and traders. Farmers stand to receive fair price for their produce through this transparent system.

Pepper sellers have the option to store their produce in authorized warehouses or their own storage facilities. An independent agency has been tasked with conducting quality checks on the pepper, and the results will be displayed online alongside the goods. Buyers can then purchase the pepper at fixed prices after verifying the quality certificate. Sellers opting to store pepper in their own godowns are required to pay a 10 percent deposit. Online trading operates from Monday to Friday, allowing for five minutes of trading per day.

While online trading commenced on Friday, initial reports indicate a reluctance among sellers due to low prices. IPSTA has also announced plans to assist buyers in securing loans from banks to facilitate transactions.