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Spot pepper prices showed a steady trend on matching demand and supply. Availability of high bulk density physical pepper continued to remain thin. This phenomenon is pointed out as the reason for the uptrend in the futures market, trade sources said. Supplies from Karnataka’s Kodagu region continued to remain good where as, that from Kerala’s High Ranges was thin. They attributed this to the direct purchases by Tamil Nadu dealers from the growers in Idukki, market sources told BusinessLine. They said of the 32 tonnes arrived today at the terminal market only 7-8 tonnes were from the High Ranges while the rest was from the Kodagu region. Upcountry buyers have slowed down buying hoping the prices would decline. Spot prices remained unchanged at ₹54,500 (ungarbled) and ₹57,500 (garbled) a quintal. On the IPSTA, platform all the contracts were up ₹492. April, May and June contracts were closed at ₹58,500, ₹58,507 and ₹58,497 a quintal respectively. Export prices were at $9,700 a tonne c&f (April shipments) $9,650 (May) and $9,600 (June).
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