Leading agri-bourse NCDEX today said it will clean 6,400 tonnes of adulterated black pepper lying in Kerala at the earliest and resume fresh contracts early next season starting January.
"After the long battle, we have got the court order allowing us to remove impurities in 6,400 tonnes of black pepper. We will clean it as soon as possible and deliver it to the beneficiary holders," NCDEX CEO and Managing Director Samir Shah told PTI.
The adulterated stock is lying in Kerala. "We will process the stock to remove mineral oils, thereby solve the very massive industry problem," he said.
The exchange would like to process the entire stock before the new season starts, he added.
Asked when the exchange plans to re-launch black pepper contract, Shah said: "Once this problem is solved, we will launch a new contract early next season."
NCDEX is trying to address the adulterated pepper issue since 2012 as the food safety authorities had seized the stock from some Kerala warehouses accredited by it after buyers complained that the stock contained mineral oil.
The Kalimirch Vyapari Association (KVA) had moved Madhya Pradesh High Court seeking justice for traders suffering due to non-delivery of black pepper by NCDEX.
NCDEX is the largest agriculture commodity bourse in the country. It generated a business of Rs 70,276 crore during last month.
