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Tuesday, Mar 19, 2002

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Pepper prices continue to move higher

Our Bureau

KOCHI, March 18

THE upward trend in pepper prices, witnessed since last week, continued on Monday with the spot and futures prices moving up.

Spot prices of MG 1 garbled was up to Rs 6,850 per quintal on Monday from Rs 6,600 on March 9, while that of ungarbled increased to Rs 6,450 from Rs 6,200.

The increase in futures ranged between Rs 125 to Rs 400 a quintal.

Increased buying activity by both exporters and domestic buyers coupled with limited supply had led to the price rise, Mr Kishor Shamji, President, India Pepper and Spice Trade Association told Business Line.

He said exporters, who had got extension of their February shipment to March, had resorted to buying to cover their requirements.

Arrivals were limited due to increased buying activity in the primary markets and movement of pepper from Kerala's major growing districts of Idukki and Wynad to other neighbouring States, he said.

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