Spot pepper continued to rise on good demand amid tight availability. Indigenous pepper sellers, from the high ranges, were reportedly not ready to sell below ₹500 a kg.
Sellers of imported pepper were quoting now ₹430-₹440 a kg and Kalpetta (Wayanad) sellers have sold 20 tonnes of imported pepper at ₹430 to Tamil Nadu-based dealers, trade sources told Business Line. On the terminal market, 8 tonnes of imported material were traded at ₹430 a kg, they said. Meanwhile, immature green pepper was also being imported from Sri Lanka , they said.
Spot prices shot up by ₹700 a quintal to close at ₹39,900 (ungarbled) and ₹41,900 (garbled) a quintal. But no sellers were ready to sell MG 1 below ₹500 a kg. As a result, the export price for MG 1 has shot up to $7,250 a tonne c&f for Europe and $7,500 for the US.
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