INDIAN spot market pepper prices edged up in the last week as traders moved to cover their demand by purchasing from stockists, Mumbai trader and analyst Kotak Commodity Services said in a report released on Tuesday. Indian pepper spot prices in Kochi gained by 8.98% to Rs38,606 ($706) per 100 kg in the week to January 12. The company noted that buying on the futures market supported the upside in the spot prices. Meanwhile, Indian farmers continued to be on the sidelines and were not selling at the current low prices. Ungarbled black pepper was offered at Rs38,300 per 100 kg and MG-1 at Rs39,300 per 100 kg in the spot market. Traders had indicated that black pepper remained firm on strong domestic demand and tight supply, Kotak noted... Read More