INDIA'S government will set up two panels to investigate and help resolve problems related to pepper and cardamom futures trading. Pepper futures trading has been under scrutiny in India since mid-December when around 8,000 tonnes of the spice stored in six National Commodity & Derivatives Exchange (NCDEX) registered warehouses in Kochi were sealed by the Food Safety and Standard Authority of India (FSSAI) due to traces of mineral oils. Unscrupulous players use mineral oil to polish pepper and hide poor quality. During a meeting organised by the regulator, the Forward Markets Commission (FMC), in Kochi, KV Thomas, minister of consumer affairs, food and public distribution, said two expert panels will look into pepper and cardamom production, and recommend solutions to address concerns of various stakeholders in the trading of these spices. The two committees will be similar to the one constituted for rubber last year... Read More