New crop arrivals pound pepper

Spot pepper prices slipped on Tuesday on reports that the new crop has started trickling in to primary markets. Market sources told BusinessLine that five tonnes of new pepper arrived today from Kerala’s Pathanamthitta district and traded at ₹695 a kg. Meanwhile, upcountry buyers continued to stay away hoping that prices will fall further. However, on the IPSTA platform all the active contracts remained unchanged as no trading has taken place. Spot prices dropped by ₹200 a quintal to ₹69,100 (ungarbled) and ₹72,100 (garbled). Export prices were at $12,100 a tonne c&f December shipments for Europe and $12,500 for the US.