Liquidation pounds pepper

Liquidation of stocks by dealers increased supply and that in turn has pulled the spot pepper prices further down on Monday.Consequently, 49 tonnes were tradedon the terminal market from different parts of the state at ₹565-595 a kg. Spot prices dropped by ₹200 a quintal to close at ₹57,600 (ungarbled) and ₹60,600 (garbled) a quintal. April, May and June contracts on the IPSTA remained steady at ₹60,000, 57,000 and 57,000 a quintal respectively. Indian export prices were at $9,575 a tonne c&f for Europe and $9,825 a tonne c&f for US.