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Spot pepper prices slipped on Thursday on higher arrivals. However, upcountry demand continued to remain strong. There were buyers at $9,000 a tonne, market sources told Business Line.
Fresh pepper arrived from the plains of Malappuram, Wayanad, etc. High range pepper from Rajakumari and Rajakkad also showed signs of increased arrival. Tamil Nadu-based dealers were buying directly from the doorsteps of farmers in the high ranges.
Today 42 tonnes of fresh pepper arrived and 40 tonnes of them were traded. Anticipation of more arrivals pushed the spot prices down.
On the NMCE, February contract increased by ₹357 to ₹54,500 while March was down by ₹140 to ₹54,300 a quintal.
Turn over moved up by three tonnes to 16 tonnes. Total open interest also rose by two tonnes to 32 tonnes.
Spot prices fell by ₹300 on rise in arrivals to ₹52,400 (ungarbled) and ₹54,400 (garbled) a quintal.
Export prices were at $8,975 c&f for Europe and $9,225 a tonne c&f for the US.
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