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Pepper markets witnessed a sharp fall on Friday as the quality of the material arriving was poor, trade sources said.
They told BusinessLine that the farmers are plucking the whole berries, both mature and immature, at a time because of the drought conditions prevailing and, as a result, the bulk density of the pepper was at 440-450 GL. This phenomenon was pulling the prices day by day, they said.
On the terminal market, 21 tonnes were traded at prices ranging between ₹560 and ₹655 a kg.
Prices today based on litre-weight (in kg): 435, 440, 450 GL: ₹560; 480 GL ₹585; 500 GL ₹600; 530-540 GL ₹645 (Wayanad) and 555-560 GL ₹655 (High ranges).
Spot prices fell further by ₹400 a quintal to close at ₹64,200 (ungarbled) ad ₹67,200 (garbled). February and March contracts on the IPSTA also fell by ₹1,000 a quintal each to ₹65,000 and ₹63,000.
Export prices were at $9,975 a tonne c&f for Europe and $10,225 for the US.
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