Pepper prices stayed hot on strong demand amid tight supply. Tamil Nadu dealers were buying directly from the doorsteps of growers at ₹700 a kg and hence they were not interested to bring their produce to Kochi spending additional ₹10/kg, primary market dealers in Idukki told BusinessLine.
Fourteen tonnes contracted earlier at ₹680-690. No fresh arrivals were reported. This phenomenon has pushed up the prices on the spot and the active futures contracts, they said. Spot prices shot up by ₹500 a quintal to ₹66,600 (ungarbled) and ₹69,600 (garbled). November and December contracts on the IPSTA also went up by ₹1,000 to ₹71,000 and ₹69,000. Export prices were at $11,350 a tonne c&f for Europe and $11,600 for the US.
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