Selling pressure pounds pepper

Increased selling pressure continued to push down pepper prices on Thursday. Good demand from exporters and domestic markets has also emerged. But, much of the upcountry demand is getting transferred to Karnataka, which is offering at ₹540 a kg delivered anywhere in India on cash-and-carry basis. Exporters here also bought from re-processors at ₹560. High Range pepper was traded at ₹570. On the terminal market, nearly 77 tonnes of pepper were traded at prices ranging between ₹560 and ₹570 a kg. On the IPSTA platform, March contract moved up marginally while the nearby dipped. Spot prices lost ₹400 a quintal to ₹55,500 (ungarbled) and ₹58,500 (garbled). Export prices are at $9,600 a tonne c&f for prompt shipment and $9,550 and $9,400 for March and April shipments.