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The pepper market turned hot on Tuesday on the back domestic demand amidst tight supply.
Indications of good offtake from upcountry markets are emerging at a time when supplies are tight. In turn, spot prices increased, market sources told BusinessLine . The current tight scenario will continue till the new Indian crop hits the markets in late December-early January.
On the spot, there was neither any arrival nor any buying on Tuesday for the second consecutive day.
Spot prices shot up by ₹700 a quintal to ₹67,700 (ungarbled) and ₹70,700 (MG-1) a quintal.
Indian export prices were quoted at $11,950 a tonne c&f Europe and around $12,200 for the US.
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