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Spot pepper ruled steady on Thursday despite increased selling pressure from Karnataka. Limited availability of good quality physical pepper seems to have left the spot prices steady here, market sources told BusinessLine. They said Karnataka was selling low bulk density pepper at ₹515-525a kg. Exporters and domestic industrial users were covering it. Domestic users, who were importing low bulk density pepper hither to from Vietnam, were also buying as it is available cheap indigenously, they said. Totally 135 tonnes of pepper were traded and most of it were from Karnataka and Wayanad district of Kerala. Of this, 25 tonnes from the High Ranges were also traded. Supply squeeze in Kerala has influenced the spot prices which remained unchanged today, they said. On the IPSTA platform, April and May contracts were down by ₹510 a quintal each to ₹58,008 and ₹58,015 respectively. Export prices for April shipments also slipped to $9,350 a tonne c&f for Europe and $9,650 for the US. GK Nair
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