Indian exporters of the black gold have been waiting patiently for the opportunity of doing at least 3000 mt of exports in the last quarter of 2009, after six months of high profile online Casino activities with the blessing of the National Agri Exchange who comes under the most ineffective and back bone less regulator in the country.
Many ask why a regulator of this caliber is needed in a country where the stock market regulator is one of the best in the world and the regulation of trading futures in commodities also should be entrusted with them for the effective functioning of this beautiful model which was well run. for more than 50 years by India pepper and spice Trade Association with impeccable record and never given the chance for regulator to interfere as the self regulation itself was one of the best we have seen in this country with regard to running the exchange as it was not a money making platform but a platform well designed to cater the needs of farmers, up country traders. stockiests and Terminal Traders and Exporters of Black pepper in this country.
The total exports of black pepper made from the country till sept 15 was to the tune of 7500 mt out of which imported pepper constituted 6000 mt which means India has not exported Indian origin pepper in the first half of financial year 2009 2010.
Is not more than 1500 mt although the quantities traded in the online Casino are close to 150000 mt minimum in a month .
Who is benefitting from this price destruction system ?
Its high time to either to regulate the system on the full spirit of letter and word or close down the operation as the money from a million retail operators have reached the pockets of a very few people who can be counted on finger tips besides the exchage and cell call anlysts from various commodity broking houses.
Every morning we see stories on Indian pepper. Some are so stupid and absurd and the editor and publisher should be stoned to death for printing such stories.
For exporting 250 mt pepper you can read stories and Live TV shows from old school stalwarts to the new generation breast feeding analysts who have considered themselves as the last word with regard to price movements either intraday or during the tenor of the contract .
Competitive pricing of Indian pepper currently. will results in exports in the last Quarter of 2009 ? was asked to Mr Jojan Malayil Vice Chairman of All India. Spice Exporters Forum and the country's largest exporter of Indian Black and white pepper and the answer was ”no comments” for the first time in recent times seems.
Things are not positive as he predicted before .So guys watch out or you will be caught on the wrong foot .
Jennifer La Rive
New Delhi
19/09/2009 22 30 hrs
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