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Lack of demand from upcountry markets due to flooding of the markets in almost all states from Bihar to Rajasthan with Vietnam pepper smuggled into the country via borders with Myanmar, Bangladesh and Nepal has pounded the pepper further on Monday. "If this trend is allowed to continue it is going to be disastrous for thousands of Indian pepper growers", a veteran pepper dealer told Business Line . Pepper prices fell sharply by ₹2,400 a quintal in about 10 days to ₹39,300 (ungarbled) and ₹41,300 (garbled) a quintal today from ₹41,700 and ₹43,700 a quintal respectively on February 2.
On the terminal market 25 tonnes were traded. High range pepper went for ₹400 a kg while Pulpally and Bathery material were sold at ₹390 a kg. Imported pepper fetched ₹375-₹380 a kg. Indian export prices were down to $6,525 a tonne c&f for Europe and $6,775 a tonne c&f for the US.
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