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Pepper supply outstripped demand on Friday pulling the prices further down.
Futures contracts as well as spot prices dropped today on increased arrivals.
On the terminal market, 39 tonnes of pepper were traded at prices ranging between ₹620 and ₹640 a kg depending upon quality and area of production.
Pepper below 500 GL was traded at ₹550-575 a kg while 525 GL at ₹620-625 a kg. High range pepper was fetching ₹630-640 a kg.
High bulk density 575-580 GL pepper was traded at ₹680 (high) and ₹660 (low) a kg, trade sources told Business Line.
Tamil Nadu based dealers were the buyers. They were buying all the grades and despatching on an average 20 tonnes of pepper daily, they said.
Spot prices fell by ₹300 a quintal to ₹62,200 (ungarbled) and ₹65,200 (garbled) a quintal.
February and March contracts on the IPSTA also fell by ₹1,000 a quintal to close at ₹64,000 and ₹63,000.
Export prices were at $9,850 a tonne c&f for Europe and $10,100 for the US .
Vietnam, Indonesia, Malaysia and Singapore markets will re open on Monday. Everybody is waiting for a rush of arrival from next week from Vietnam crashing the prices, export sources said.
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