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Selling pressure pushed down the pepper prices on the spot and the futures markets. Pepper from the plains was available at lower rates and that had aided the price fall. On the terminal market, 35 tonnes were traded at ₹550-590 a kg. Inter-state dealers and processors were the buyers. Spot pepper fell further by ₹300 a quintal to ₹58,200 (ungarbled) and ₹61,200 (garbled). March contract on the IPSTA dropped by ₹1,000 a quintal to ₹57,000. Export prices were at $9,375 a tonne c&f for Europe and $9,625 for the US.
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