Spot pepper rules steady

Spot pepper prices on Monday ruled steady on matching demand and supply. However, the active contracts on the IPSTA platform moved up so as to stay at par with the spot prices. Karnataka is reportedly offering 500 GL pepper at ₹585 a kg delivered anywhere in India. Even locally it is reportedly being traded at ₹600, market sources told BusinessLine. On the terminal market, 57 tonnes arrived and all were traded. Spot prices remained unchanged at ₹58,000 (ungarbled) and ₹61,000 (garbled) a quintal. On the IPSTA exchange, May and June contracts moved up by ₹500 a quintal to ₹61,000 and ₹60,980 respectively. Export prices were at $9,900 a tonne c&f for Europe and $10,150 for the US. GK Nair