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Spot pepper prices fell on Monday following withdrawal by buyers from the markets.
The buyers are staying away from the market citing the present confusions over GST system and availability of imported pepper with them. They would enter the market once the new tax regime would become clear, market sources told Business Line .
On the terminal market 10 tonnes from the high ranges and Wayanad (Pulpally and Bathery) were traded at ₹505 a kg and 500 a kg respectively.
Meanwhile, Vietnam Pepper Association has reportedly asked their farmers not to sell below $4,000 a tonne.
Spot prices dropped by ₹300 a quintal to close at ₹49,700 (ungarbled) and ₹51,700 (garbled) a quintal.
Indian export prices were at $8,250 a tonne c&f for Europe and $8,500 a tonne c&f for the US.
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