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A sudden squeeze in supply in Kerala pushed up pepper prices on spot and futures markets. Investors, exporters and inter-State dealers from Tamil Nadu were covering from the primary markets/growers in the high ranges at terminal market prices, market sources told BusinessLine. They said harvesting in Rajkumari (Idukki) region has started and the high bulk density pepper grown here has been traded at ₹670 a kg.
High range material is sold at ₹560-565, they said. Selling pressure in Karnataka continued to exist but the quality is reportedly inferior and hence it is being traded at ₹510-515. On the terminal market, 28 tonnes of pepper were traded between ₹550 and ₹570. On the IPSTA platform, April and May contracts moved up by ₹510 a quintal each to ₹59,018 and ₹58,025. Export prices were $9,525 a tonne c&f Europe and $9,725 for the US.
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