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Pepper prices continued to rule firm on Tuesday with the market turning purely one for sellers. Dealers from Madhya Pradesh, Rajasthan and Tamil Nadu, bought from primary markets in Kerala and Karnataka prices quoted by the sellers, market sources told Business Line.
At the terminal market, nine tonnes of pepper arrived and were traded in the range of ₹700-720 a kg. Meanwhile, some people in the trade said consignments from Vietnam have arrived at Kochi and Mumbai for value-addition and re-export. Nine tonnes of white pepper were traded at ₹1,025 a kg in the Mumbai open market, a trader claimed.
On the NMCE, no trading took place while on the IPSTA platform, buyers paid ₹68,292 a quintal for May and ₹67,292 a quintal for June. On the spot, prices soared by ₹1,000 to ₹70,000 (ungarbled) and ₹72,000 (MG 1) on strong demand amid tight supply.
Primary market dealers in southern Kerala expressed the hope that prices may touch ₹1,000 a kg. Export prices went up to $12,600 a tonne c&f for Europe and $12,850 c&f for the US.
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