Pepper futures gain slightly on poor stocks

Pepper futures prices rose by Rs 126 to Rs 23,918 per quintal today, as speculators enlarged their positions, triggered by lower supplies in the spot market.

At the National Commodity and Derivatives Exchange, pepper for delivery in April rose Rs 126, or 0.53 per cent, to Rs 23,918 per quintal, with an open interest of 387 lots.  

Likewise, the spice for delivery in January gained Rs 22, or 0.10 per cent, to Rs 22,660 per quintal, with a business volume of 598 lots.  

Market analysts said tight supplies in physical markets following lower stocks in major producing centres and pick up in demand pushed up pepper prices at futures trade.