Pepper slips on slack demand

Pepper prices slipped on Thursday on slack demand following withdrawal of buyers from the grinding industry due to advancing of rainy season into north India, market sources told Business Line . Meanwhile, they said, panic sales by Indonesia and Brazil anticipating drop in prices is creating bearish sentiments in the international scenario. This phenomenon is also influencing the markets here, they said. On the terminal market 10 tonnes from the high ranges were traded at ₹500 a kg. There were no arrivals from Pulpally and Bathery and the plains. Spot prices slipped by ₹100 a quintal to close at ₹49,100 (ungarbled) and ₹51,100 (garbled) a quintal. Indian export prices were at $8,175 a tonne c&f for Europe and $8,425 a tonne c&f for the US.