Mattancherry: Pepper prices, which recently touched a record high, have once again declined, bringing concern to farmers. Over the past two weeks, rates have dropped by ₹21 per kg. On Wednesday, ungarbled pepper was trading at ₹698 per kg, while the garbled pepper was priced at ₹718. Two weeks ago, ungarbled pepper had touched ₹721 per kg, crossing ₹720 for the first time since 2014.

Traders in Kochi said the fall in prices has kept buyers away from the market. They point out that a substantial inflow of Sri Lankan peppers into North Indian markets has influenced this trend. Sri Lankan peppers are currently priced ₹690 per kg.

According to traders, spice manufacturers are showing growing interest in Sri Lankan produce. It is being suggested that these peppers are proving more suitable for spice production needs.

Kishore Shyamji, former president of the Indian Pepper and Spice Trade Association (IPSTA) and a trader himself, stated that the pepper seized from the NCDEX exchange years ago might now be entering the market. This, he noted, could also be contributing to the dip in prices.

Despite the domestic price drop, Indian pepper still commands the highest value in the global market, priced at $8,700 per tonne. In comparison, Sri Lankan pepper is priced at $7,300, Vietnamese pepper at $7,200, and Indonesian pepper at $7,800. The harvesting season in Sri Lanka is expected to begin in June.

The ongoing fall in prices has emerged as a fresh challenge for pepper farmers across the state.