Spot pepper prices fell to below Rs 500 per kg for MG 1 following increased availability of cheap imported pepper in north Indian markets, market sources told BusinessLine . The prices for MG 1 was ruling at Rs 720 a kg on July 27, 2016 and thus in one year its prices have dropped by Rs 221 a kg, sources added.
On the terminal market, 15 tonnes of pepper were traded. Rajkumari (Idukki) pepper was traded at Rs 495 a kg while the high range material fetched Rs 485 a kg.
Spot prices fell by Rs 200 a quintal to close at Rs 47,900 (ungarbled) and Rs 49,900 (garbled) a quintal. Indian export prices slipped to $8,000 a tonne for Europe and $8,250 a tonne cf for US.