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Supply squeeze continued to push up pepper prices on Monday. Direct buying by inter-state dealers from the farm gates in Idukki and Wayanad at ₹485 a kg has blocked the pepper movement to the terminal market, they said.
As a result, there were neither any arrivals nor any off take here, they said. There were no sellers for MG 1 even at ₹500 a kg, they said. Spot prices moved up by ₹100 a quintal to close at ₹47,900 (ungarbled) and ₹49,900 (garbled) a quintal. Indian export prices also moved up following strengthening of the rupee to $8,075 a tonne c&f for Europe and $8,325 a tonne c&f for the US.
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