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Pepper prices ruled steady on the spot market Thursday on limited activities, as there was neither any arrival nor any off take. No sellers were forthcoming to sell at current rates. Prices quoted were ₹685 a kg for high range pepper, at ₹690 for Rajkumari, and ₹675 for the produce from the plains.
There is good business as of late pepper pouches of 250/500 grams are being sold at ₹1 per gram to the Ayyappa devotees who are buying it on return from Kottayam, Pathanamthitta and Idukki districts of Kerala. An estimated 7-8 tonnes of pepper is being traded daily, market sources told BusinessLine .
On the other hand, they said, whatever is left is bought by Tamil Nadu-based interstate dealers directly from the door steps of the growers on cash-and-carry basis.
Hence, no pepper is coming to the terminal market, they said. On the anticipation of heavy arrivals in the coming days, active contracts on the IPSTA platform fell by ₹1,000 a quintal. January and February contracts were closed on Thursday at ₹62,964 and ₹59,337 respectively. Spot prices remained unchanged at ₹66,700 (ungarbled) and ₹69,700 (garbled). Indian export prices stayed steady at $11,350 a tonne c&f for Europe and $11,600 for the US.
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