FMC Asked To Remove Quantity Restriction On Pepper

Kochi: The Cochin Hill Produce Merchants Association (CHPMA) on Sept 5, asked the Forward Markets Commission (FMC) to remove the quantity restriction on nearby month position as it had negatively impacted the pepper trade. The rate of the near month contract is far below the spot price, but the curb is restricting the exporters from taking advantage of the lower prices. Black pepper exports from the country could be in a better position because of the tight supply position in the world market apart from the prevailing low prices for the Indian pepper. The limit has been fixed in order to curb excessive speculations and high volatility of prices, but there is no use.