Pepper slides as arrivals rise

Sharp fall continued in pepper markets on Monday following higher arrivals and reports of release of pepper held in the warehouses for about two years. On the spot, 30 tonnes of pepper arrived and they were traded between ₹575 and ₹610 a kg. On the IPSTA platform, all the active contracts fell by ₹1,000 a quintal . February, March and April contracts closed at ₹60,337, ₹58,237 and ₹56,136 respectively. On the terminal market, spot prices fell further by ₹1,000 to ₹58,500 (ungarbled) and ₹61,500 (garbled). Export prices were $10,400 a tonne for prompt shipments, while for February and March there were $9,500.