Pepper Tags Divergent

Black pepper prices witnessed a two-way choppy trade on the international commodity exchange for pepper yesterday on good demand for short-term contracts, and lack of enquiries for long-term futures, dealers said. The June contracts were quoted at a lower level of Rs 20,275 a quintal as against Rs 20,400. May contracts were quoted at Rs 20,550 as against Rs 20,575 while April contracts were offered at a higher Rs 20,950 as against Rs 20,900. March futures were quoted higher at Rs 21,100 as against Rs 20,900. In spot trading, garbled pepper was quoted at Rs 21,100 as against Rs 20,900, and ungarbled pepper ruled at Rs 19,400-20,400.