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Pepper prices slipped further on bearish sentiments. Reports of arrival of Sri Lankan pepper in the markets at $7,000 a tonne has created a bearish sentiment in the market pulling the spot prices and running futures contract, trade sources said. They told that 850 tonnes of Sri Lankan pepper have reportedly arrived and of this 500 tonnes have landed in Mumbai and Delhi. Even Vietnam is quoting for its new crop $8,500 a tonne, they claimed. On the spot, 23 tonnes were traded at ₹685-675 a kg respectively. High Range sellers were at ₹690 while the buyers were at ₹685/kg. Spot prices fell by ₹300 a quintal to ₹67,700 (ungarbled) and ₹70,700 (garbled). December contract on the IPSTA also dropped by ₹1,000 a quintal to ₹71,500. Export prices were at $10,875 a tonne c&f for Europe and $11,125 for the US.
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