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Spot pepper prices continued to witness an easier trend on Wednesday following increased supply.
The trade sources said that the upsurge in arrivals was due to three-day bank holiday from tomorrow while the price fall is mainly because of the inferior quality of the material. “There is still good demand for high bulk density pepper but its availability is tight. High range pepper is still traded at ₹660 a kg,” they told Business Line.
Buyers have, by and large, moved away from the declining market. However, industry buyers were covering just hand to mouth, they said.
On the terminal market, 61 tonnes were traded at ₹625-660 a kg.
Spot prices fell further by ₹300 a quintal to close at ₹64,600 (ungarbled) and ₹67,600 (garbled) a quintal.
February and March contracts on the IPSTA were steady at ₹66,000 and ₹64,000 a quintal.
Export prices also declined to $10,000 a tonne c&f for Europe and $10,250 for the US.
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