Pepper prices continued to rule steady as demand matched supply. On the National Multi Commodity Exchange, March contracts moved up marginally, while on the IPSTA Exchange active contracts remained unchanged.
Some demand has come to the terminal market, where 25 tonnes of farm grade pepper were traded at ₹515-525 a kg. Upcountry demand was good but much of it was being met by direct dispatches. Primary market people said inter-State dealers were buying from the doorsteps of growers and dealers at above terminal market prices as it was beneficial to them, market sources told Business Line . On the NMCE, March contract gained ₹45 at ₹52,900, while April contract was not opened. Spot prices remained steady at ₹51,500 (ungarbled) and ₹53,500 (garbled) a quintal. Export prices increased following strengthening of the rupee to $8,850-8,900 c&f Europe and $9,100-50 a tonne c&f US and remained stayed much above other origins.