June contract went up by Rs246 on NCDEX to close at Rs12,910 a quintal. July and August increased by Rs 225 and Rs 191 to close at Rs 13,060 and Rs 13,176 respectively.

Total turnover increased by 1,396 tonnes to 6,924 tonnes. Total open interest moved up by 79 tonnes to 7,003 tonnes.

Spot prices in tandem with the futures market trend shot up by Rs 200 to close at Rs 12,600 (un-garbled) and Rs 13,100 (MG 1) a quintal. The Indian parity thus shot up to $2,875 a tonne (c&f) and remained very much out-priced.

Even in the selective pockets in Europe, the US, Canada, Australia and Japan, the buyers are now reluctant to buy the preferred Malabar Garbled 1 because of the high prices, they claimed.

Therefore, the trade demanded that given this situation, the benefit of Visheh Krishi Upaj Grihudhyog Yojan be extended to exports of Indian pepper. Now it is given to those exports of value added products including whole pepper imported and value added and re-exported, they alleged.

There is good domestic demand and it is met by direct purchase from the Coorg region, trade sources said.

According to an overseas report Vietnam pepper market was firm againdue to aggressive local buying by some exporters who need to cover shorts and/or take long positions.

FAQ 500 GL was quoted at $2,270 a tonne (fob) and FAQ 550 GL $2,425(fob). L Asta was offered at $2,500 a tonne (fob).

Vietnam white pepper double washed was quoted at $3,450 - $3,475 atonne (fob). Brazil was reportedly not aggressive.