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Spot pepper continued its upward swing on strong demand amid squeezed supply. On the terminal market, 17 tonnes were traded at ₹715-710 a kg. Exporters bought it probably to meet their pending overseas commitments for Malabar, trade sources told BusinessLine.
They said Wayanad (Kalpetta) pepper was reportedly traded directly at ₹705/kg. Processors said to have bought 30 tonnes of exchange released pepper at ₹708. Spot prices moved up further by ₹100 a quintal to ₹69,500 (ungarbled) and ₹72,500 (garbled).
September, October and November contracts on the IPSTA stayed steady at ₹72,000, ₹71,000 and ₹66,000 a quintal. Export prices were at $11,050 a tonne c&f for Europe and $11,300 for the US.
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