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Some buyers in the major upcountry consuming markets are claimed to have bought lower grade 500 GL pepper at ₹685 a kg delivered at their premises from the Malabar region of Kerala.
The transaction, they claimed, have taken place against the demonetised currency denominations, market sources here told BusinessLine.
Meanwhile, the Idukki and Wayanad farmers were not selling against the old currency and instead they have preferred to hold back what ever stocks they are having with them, primary market sources said.
At the same time, much of the Karnataka pepper was being moved out to upcountry trading centres on cash and carry basis without bill, they said.
In the terminal market here no activities have taken place on Thursday due to non-arrival of the commodity, they said.
The prices both on the spot and futures markets therefore remained unchanged.
Spot prices stayed steady at ₹65,200 (ungarbled) and ₹68,200 (garbled) a quintal.
December, January and February contracts on the IPSTA remained unchanged at ₹67,000, ₹59,000 and ₹56,000 a quintal.
Export prices were at $10,500 a tonne c&f for Europe and $10,750 for the US. All the other origins remained far below the Malabar parity and hovered at around $7,500 a tonne.
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