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Selling pressure is building up in pepper market as harvest is on full swing in Kerala and Karnataka. This phenomenon, coupled with continued supply of Sri Lankan pepper in good volumes, has pounded the spot pepper prices further down on Wednesday.
On the terminal market, 33 tonnes were traded. Of this, 15 tonnes of Sri Lankan pepper fetched ₹405 a kg and 18 tonnes of High Range and pepper from the plains were traded at ₹410. Spot prices fell further by ₹300 a quintal to ₹40,800 (ungarbled) and ₹42,800 (garbled). Export prices were at $6,925 tonne c&f for Europe and $7,175 for the US.
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