Pepper Prices Plummet On Poor Orders

Black pepper prices, both in the spot and futures sections, declined sharply in the primary trading centre here yesterday due to lack of buying support and low enquires by exporters.

Exporters remained apprehensive about the future trend and traders showed little enthusiasm resulting in a fall in pepper prices, traders said.

Spot prices of garbled variety fell by Rs 200 a quintal compared with Wednesdays closing of Rs 21,400 a quintal, while ungarbled variety prices declined to Rs 20,500 a quintal against the previous closing of Rs 20,700 a quintal.

Pepper prices in the futures section remained bearish yesterday with December futures prices falling to Rs 21,475 a quintal compared with the previous closing of Rs 21,650 per quintal.

Prices of black pepper January futures took a further beating to close at 21,500 a quintal against Wednesdays close of Rs 21,650 a quintal.

February futures prices dipped by Rs 150 a quintal and closed at Rs 21,050 against a Wednesday closing of Rs 21,200 a quintal. March futures price was down by Rs 225 a quintal to close at Rs 21,000 against Wednesdays close of Rs 21,225 a quintal.