Pepper prices remained steady as the markets continued to be sluggish on Wednesday. Arrivals and demand were thin. According to north Indian importers, duty-free imports could amount to 2,500 tonnes under Indo-Sri Lankan Free Trade Agreement. Floods in the north Indian states have slowed down demand.
The markets were expected to become activated after the ongoing festivals next week.
On the spot, three tonnes of pepper were traded on Wednesday. Spot prices remained unchanged at ₹68,700 (ungarbled) and ₹71,700 (garbled) a quintal. Export prices declined to $12,050 a tonne (c&f) for Europe and $12,300 a for the US following weakening of the rupee against the dollar.
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