Spot pepper turned hot on seller's absence from the markets. They are waiting for the prices to touch ₹500 a kg, the MIP fixed by the Union Commerce ministry on 6th December, market sources told Business Line .
Spot prices rose by ₹500 a quintal to close at₹38,600 (ungarbled) and ₹40,600 (garbled) a quintal. Indian export prices have also moved up to $6,550 a tonne c&f for Europe and $6,800 a tonne c&f for the US.