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Pepper prices continued to shoot up on good demand amid tight availability. Strong demand has been pushing up the prices, market sources told BusinessLine. The current upsurge in demand is likely to continue as winter buying would follow the current trend, they said.
Only 13 tonnes were traded. Kalady-based dealers were buying at ₹700 a kg and selling at ₹720 for transporting by rail to north Indian centres, primary market dealers said. Rise in pulses prices has slowed down papad industry, which is one of the major industrial consumers, and that in turn has slowed down its demand for pepper, they said.
Spot prices shot up further by ₹400 a quintal to ₹67,000 (ungarbled) and ₹70,000 (garbled). November contract on the IPSTA increased by ₹1,000 to ₹72,000. Export prices were at $11,200 a tonne c&f for Europe and $11,450 for the US.
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