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Reports of availability of imported pepper abundantly in the upcountry markets have pushed spot prices on Monday. On the IPSTA platform, some day trading took place in September contract.
Pepper imported from Sri Lanka was reportedly being sold at ₹675 a kg. The end-users are claimed to have bought the Sri Lankan material at cheaper rates. On the spot, 22 tonnes of pepper arrived and of this 20 tonnes were traded between ₹700 and ₹720 depending upon the quality and area of production. Much of the arrivals were from the plains and resellers.
Spot prices were reduced by ₹500 to ₹70,400 (ungarbled) and ₹73,400 (garbled) a quintal. Export prices were at $12,500 a tonne c&f for Europe and $12,750 for the US.
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