Karnataka sellers have raised prices for their produce to ₹475-490 a kg following good domestic demand.
Added to this some exporters were also making enquiries for MG 1, while processors were buying exchange released pepper at ₹440 a kg for processing. Besides, Brazil and Vietnam have reportedly pushed up their prices. All these factors have aided the sharp rise in the spot prices on the terminal market, market sources told Business Line . Meanwhile, on the NCDEX January contract has hit the ceiling by ₹1,220 a quintal to close at ₹41,935 a quintal, they said.
On the terminal market 13 tonnes of mixed pepper were traded at ₹440 a kg, they said.
Spot prices increased by ₹500 a quintal to close at ₹42,900(ungarbled) and ₹44,900 (garbled) a quintal.
Indian export prices gone up to $7,600 a tonne c&f for Europe and $7,850 a tonne c&f for the US.