The pepper market continued to witness a downtrend, with both spot and futures markets ending lower on Thursday. Some selling pressure was witnessed in the spot market with 25 tonnes arriving at the terminal market. The entire quantity was bought by leading exporters for ₹675, ₹685 and ₹695 a kg, market sources told Business Line .
Availability of imported pepper in the upcountry markets slowed down buying. Overseas buyers were quoted as saying that they were unable to buy Malabar pepper at the current ratesSpot prices fell further by ₹500 a quintal to ₹67,600 (ungarbled) and ₹69,600 (garbled) on limited activities.
Indian export prices were at $12,000 a tonne (c&f) for the Europe and $12,250 a tonne (c&f) for the US, but continued to remain totally outpriced.