Floor price on pepper import fixed at Rs 500/kg

Concerned over a sharp drop in domestic pepper prices, the Centre on Wednesday imposed a minimum import price on the commodity at Rs 500 a kg to shield domestic growers. 

The prices have crashed to Rs 300 a kg, from Rs 730 in the wake of cheaper imports from neighbouring countries. "Fixing of MIP will help in improving the domestic price, particularly when the harvesting season of pepper is fast approaching," the commerce ministry said.

In recent times, softness in prices has been a major concern among pepper growers. "Pepper prices have gone down by nearly 35 per cent in one year