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Pepper prices dropped further on selling pressure. Inter-State dealers, exporters and processors were buying. Exporters to Vietnam were also covering against their March commitments, to raise the bulk density of the Vietnam pepper.
On the terminal market, 52 tonnes were traded at ₹635-640 a kg. Spot prices fell further by ₹300 a quintal to ₹62,200 (ungarbled) and ₹65,200 (garbled). March contract on the IPSTA also dropped by ₹500 to ₹64,500 a quintal. Export prices were at $9,675 a tonne c&f for Europe and $9,925 for the US.
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