Pepper continues to stay hot

Strong demand amid tight supply kept pepper prices hot. Availability in the primary markets has dried up and virtually no material is arriving at the terminal market. They said grinders and others in the consuming markets, after having exhausted their stocks during Diwali, are on the look out for material to replenish their stocks. This phenomenon is aiding the price now and the current trend is likely to continue for some more time, i.e., till the new crop hits the market in late December/early January. Spot prices shot up further by ₹300 a quintal to ₹68,300 (ungarbled) and ₹71,300 (garbled). Export prices were at around $12,050 a tonne c&f for Europe and around $12,300 for the US.