Trade sources told The Financial Express that after trying to hammering the prices down all through last few months, traders in the major consuming countries flocked the market with enquiries leading to a minor rally in prices. They feel that if the trend continues spot pepper prices may burst the Rs 22,000 per quintal barrier in the next two weeks.

However, he cautioned that market may respond negatively to any attempt on the part of growers to jack up the prices arbitrarily by withholding the stocks.

While the spot pepper closed the week Rs 400 per quintal higher than the opening price, all the future contracts including the long-end ones gained well over Rs 500.