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Pepper prices stayed hot on Wednesday on strong export demand amid tight supply. However, the domestic demand was slow as the buyers were anticipating the release of about 1,300 tonnes of ‘tainted’ pepper.
Traders expressed doubts about the quality of the material because it has been held in the warehouses for about 30 months. Tight availability of heavy pepper in Vietnam has reportedly pushed up V Asta pepper prices to $10,500 a tonne c&f US.
The arrivals at the terminal market were at 61 tonnes. Spot prices increased further by ₹500 a quintal to ₹61,000 (ungarbled) and ₹64,000 (garbled).
On the IPSTA platform, June, July and August contracts went up by ₹500 to ₹64,500 for each contract. Export prices were at $10,400 for Europe and $10,650 for the US.
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