Spot pepper slips on slack demand

Spot pepper prices slipped on slack demand amid thin arrivals. Dealers in Idukki were saying that they were not getting any pepper from the farmers. Whereas, the upcountry markets are now flooded with pepper imported from Sri Lanka and Vietnam. In Delhi, 480-490 GL bold Vietnam pepper is available at ₹680 a kg. As a result, domestic demand has dried up and that in turn aided the price decline. On the terminal market, three tonnes were traded at ₹705/kg. Spot prices declined by ₹100 to ₹68,800 (ungarbled) and ₹71,800 (garbled) a quintal. October, November and December contracts on the IPSTA remained unchanged at ₹72,000, ₹66,000 and ₹63,000 a quintal. Export prices were at $11,000 a tonne c&f for Europe and $11,250 for the US.