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Spot pepper continued to slip further on Thursday on bearish sentiments. Availability of imported pepper and low bulk density pepper at lower rates coupled with sale of exchange released pepper has created a bearish sentiment in the markets here pulling the spot prices down further, market sources told BusinessLine. Wayanad pepper seven tonnes mixed with Karnataka 530 GL low bulk density pepper were being traded at ₹690 a kg.
While seven tonnes of high range pepper were traded at ₹695 on the terminal market. Meanwhile, 20 tonnes of exchange released pepper were traded at ₹700 a kg. Interstate dealers bought the entire material for transporting by rail tomorrow, they said. Spot pepper declined further by ₹100 a quintal to ₹68,300 (ungarbled) and ₹71,300 (garbled). October, November and December contracts on the IPSTA stayed steady at ₹72,000, ₹66,000 and ₹63,000 a quintal. Export prices were at $11,050 a tonne c&f for Europe and $11,300 for the US. Vietnam was quoting 570 GL Asta grade at $7,200 a tonne.
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