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Pepper prices surged on Friday on supplies being unable to meet a strong demand.
On IPSTA platform, the active contracts increased.
Rajkumari pepper traded at ₹720 a kg, while that of high range traded at ₹715-717. Semi-processed material was nominally quoted at ₹715. Processors who were selling 550 GL pepper are said to have traded MG 1 at ₹735 a kg.
Pepper from the plains was quoted at ₹710 a kg.
Those who have committed for November/December sales are running around for material.
Meanwhile, overseas reports of firmer trend in Vietnam also influenced the market. On the spot, eight tonnes of pepper arrived and found takers immediately.
On the IPSTA platform, the running contracts closed at ₹1,000 a quintal above the previous day closing.
On the spot, prices shot up by ₹1,000 a quintal to ₹69,800 (ungarbled) and ₹72,800 (garbled) a quintal.
Export prices also moved up to $12,500 a tonne for Europe and $12,750 for the US (both c&f).
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