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Pepper prices continued to increase on good demand amidst tight supply. Arrivals of the new crop remained very thin. Only two tonnes of the material arrived from the southern districts, where selective plucking is taking place.
Investors’ validity expired pepper was traded on Tuesday. About 20 tonnes of were traded at ₹517 a kg. Later, sellers raised the price to ₹520 . Two tonnes of pepper from the southern districts were traded at ₹501 a kg, market sources told Business Line .
There was good demand from the upcountry markets and requirements were met by direct purchases from the farmers/primary markets on cash-and-carry basis. Availability of the material was very tight, they said. Plucking is expected in Idukki district this week and Wayanad next week, they said.
On the NMCE, February and March contracts moved up by ₹25 and ₹233 respectively to ₹51,900 and ₹52,500 a quintal. Total turnover improved to six tonnes. Total open interest was up by two tonnes to 22 tonnes.
On the IPSTA, February contract remained unchanged at ₹52,380, while March moved up by ₹1,000 to ₹50,560.
Spot prices increased by ₹300 to ₹50,100 (ungarbled) and ₹52,100 (garbled) a quintal on strong demand amid tight availability. Export prices were at $8,575 (c&f) for the Europe and $8,825 a tonne c&f for the US.
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