Pepper rebounds on demand

Pepper prices rebounded on Wednesday on higher demand amid tight supply. Reports that the release of 6,400 tonnes of pepper by NCDEX might be delayed pushed the market up. Meanwhile, upcountry demand started picking up. All these factors pushed up prices, market sources told Business Line. There were no sellers for High Range pepper below ₹660, while Pulpally, Bathery (Wayanad) sellers were quoting ₹650 a kg and buyers were at ₹645. On the terminal market, two tonnes of pepper arrived and were traded. Spot prices moved up by ₹300 to ₹64,300 (ungarbled) and ₹67,300 (garbled) a quintal. Export prices also moved up to 11,500 a tonne (cf) for Europe and $11,750 for the US.