Strong ₹ makes pepper imports cheaper

Strong rupee against the dollar coupled with decline in prices in overseas origins have made imports further cheaper, market sources told Business Line.

They said the landed cost of pepper imported from Sri Lanka at $4,700 a tonne and by paying 8 per cent duty would now come to around ₹325 a kg. 27 tonnes were traded and of these 13 tonnes from southern districts were sold at ₹435 a kg, while 14 tonnes from the High Ranges were traded at ₹455.

Spot prices, on bearish reports, fell by ₹300 a quintal to ₹44,900 (ungarbled) and ₹46,900 (garbled). Export prices were at $7,600 a tonne c&f for Europe and $7,850 for the US.