The India Pepper and Spice Trade Association (IPSTA) is set to launch black pepper e-commerce on its platform. The IPSTA Board of Directors is in talks with vendors (software companies) for the implementation of e-commerce software.
Anand Kishore Kuruva, the newly elected president of the Association, said Activity area this pepper is said to be the second commodity after cardamom among Kerala’s cash crops to enter the e-spot / e-auction realm. “If all goes well, we will start the service within six months,” he said.
The association’s expertise will be useful as it managed the black pepper futures trade from 1957 to 2016. The futures trading platform will give way to spot trading, which will be managed on a pan-Indian basis.
The platform will allow farmers to get better yields / prices, while buyers will also be able to participate and get better quality and competitive prices. The advantages of such a platform will be manifold, as it will ensure a clean and transparent trading system.
The association is behind the mechanism for finding black pepper prices around the world. This instrumental feature made Kochi the go-to spot for black pepper, as the prices decided here were accepted around the world, as India was the biggest pepper exporter at the time, Sameer Naveen Shah said, the new vice-president of IPSTA for the 2021 term. -22.
According to Anand Kishore, total pepper production in India is in the range of 50-55,000 tonnes and IPSTA targets 50-60% of volumes through the electronic platform.
When asked about the pepper trade, he said the market was stable with prices between 400 and 425 rupees, with stable demand and good supply. Demand is expected to increase in a few days, with the festival season following and the economy opening up.