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Pepper markets dropped on sluggish activities. There were neither any arrivals nor any offtake. Domestic demand is not forthcoming as the upcountry markets are holding stocks of imported pepper from Sri Lanka and Vietnam, market sources told BusinessLine.
Spot prices dropped further by ₹100 a quintal to ₹68,600 (ungarbled) and ₹71,600 (garbled). October, November and December contracts fell by ₹1,000 each a quintal to ₹72,000, ₹66,000 and ₹63,000. Export prices were at $11,100 and tonne c&f for Europe and $11,350 for the US.
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