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Spot pepper prices slipped on Friday on rumours of immediate release of 6,400 tonnes of pepper held in the warehouses.
Meanwhile, because of the rains in the evenings the pepper arrived at the terminal market was of high moisture and its processing cost would raise the price to ₹725 a kg.
On the terminal market, 12 tonnes of pepper arrived and of this Rajkumari (Idukki) pepper was sold at ₹697.
On the spot, IPSTA has notionally reduced the spot prices by ₹300 a quintal to ₹67,500 (ungarbled) and ₹70,500 (garbled).
Export prices were at $11,975 a tonne c&f for Europe and $12,225 for the US.
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