Pepper turns hot on tight supply

Pepper prices continued to stay hot on tight availability amid strong demand. Spot prices shot up by ₹1,500 a quintal from last Monday. Good buying interest was seen in the market. Spot prices moved up further by ₹300 a quintal to ₹69,700 (ungarbled) and ₹72,700 (garbled). July, August and September contracts on the IPSTA increased by ₹1,000 each a quintal to ₹72,000, 71,000 and 69,000 respectively. Export prices were at $10,700 a tonne c&f for Europe and $10,950 for the US.