Continuous strong demand amid tight supply is pushed up spot pepper prices up on Thursday. No trading activities were reported on either of the futures exchanges, IPSTA and NMCE.
On the IPSTA platform, there were buyers at higher levels but no trading took place, market sources said. On the spot, 12 tonnes were traded at ₹605, ₹610 and ₹615 a kg.
On the IPSTA, May and June went up by ₹1,000 a quintal each to ₹59,292 and ₹58,292 a quintal. Spot prices shot up by ₹500 a quintal to ₹60,500 (ungarbled) and ₹62,500 (garbled) a quintal on tight supply. Export prices soared to $10,750 a tonne c&f for Europe and $11,000 a tonne c&f for US.