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Spot pepper prices bounced back on demand amid tight supply. Reports on delay in arrivals of new crop coupled with overseas reports of firmer trend in other origins are said to have pushed the spot prices. On the spot, prices shot up by ₹1,000 a quintal to ₹67,500 (ungarbled) and ₹70,500 (garbled). Eight tonnes of pepper arrived on the spot and traded at ₹675-700 a kg. On the IPSTA, however, all the active contracts fell by ₹1,000 to ₹59,964 (January), ₹56,337 (February) and ₹56,237 (March). Export prices were at around $11,500 a tonne for Europe and $10,700 for the US.
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