Pepper prices continued to rule hot on strong demand amidst tight supply. Spot prices shot up substantially on demand amid tight availability. Sellers were conspicuous by their absence.
Buyers moved around looking for the material, market sources told Business Line . On the NMCE, April contract increased by ₹783 a quintal to ₹55,850 a quintal. May contract was not traded.
On the IPSTA platform, April remained unchanged at ₹54,342 a quintal, while May and June closed ₹1000 higher. But no trading activity was reported, they said.
On the spot, prices shot up by ₹400 to ₹52,500 (un-garbled) and ₹54,500 (garbled). Indian export prices ruled above $9,000 a tonne c&f and were totally out priced.