Bearish propaganda that the current Indian production is going to be 70,000 tonnes has dragged pepper prices further on Thursday.
Meanwhile, trade sources told Business Line that white pepper is also now landing in the markets from overseas origins at lower prices and were being sold at ₹600-650 a kg.
Imports of black pepper at lower rates continued in spite of the MIP by paying import duty at ₹500 a kg along with other commodities on which the price difference is adjusted, they said. Those who are holding the imported pepper were seen running around to liquidate following persistent fall in prices and beginning of harvesting in Karnataka, they said.
On the terminal market, High Range pepper including from Rajkumari were traded at ₹380-390 a kg.
Spot prices fell further by ₹200 a quintal to ₹37,900 (ungarbled) and ₹39,900 (garbled).
Export prices were down to $6,350 a tonne c&f for Europe and $6,600 for the US.