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Pepper prices turned hot on strong domestic demand. All futures contracts moved up across the board by ₹500 a quintal, market sources told BusinessLine. They said domestic buyers were covering actively to procure ample material before the onset of the South-West monsoon. Karnataka sellers have raised the price of 500 GL pepper to ₹585 a kg. However, buyers were quoting ₹575. Pulpally, Bathery (Wayanad) sellers were offering at ₹590 while the High Range pepper was being offered at ₹600, they said. On the spot, 52 tonnes of pepper arrived and all were traded. Of this ,32 tonnes were from Karnataka while the rest was from the Plains. Spot prices moved up by ₹500 to ₹57,000 (ungarbled) and ₹60,000 (garbled) a quintal. On the IPSTA platform May, June and July contracts closed at ₹60,000, ₹59,990 and ₹59,990 respectively. Export prices were at $9,850 a tonne c&f for Europe and $10,100 for the US.
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