Continuing its yesterday's rally, pepper prices shot up by nearly 1.55 per cent to Rs 20,375 per quintal in futures trade today, supported by a short supply of stocks at spot markets.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in December was up by Rs 328 or 1.55 per cent, to Rs 20,335 per quintal, with an open interest of 1,384 lots.
Similarly, pepper for delivery in November also traded up by Rs 1.51 per cent to Rs 20,040 per quintal with an open interest of 4,858 lots.
Marketmen analysts said firming trend at the spot markets on the back of price rise by $100 per tonne in global markets by other producing countries, Indonesia and Brazil were major factor behind persistent rise in the spice prices in futures trade.