Pepper futures surge on lower production

Pepper futures prices surged by Rs 234 to Rs 22,980 per quintal today on rising demand against restricted arrivals.

Estimates of lower global productions also influenced the trading sentiment.  

At the National Commodity and Derivatives Exchange counter, pepper for delivery in December surged by Rs 234, or 1.08 per cent to Rs 22,980 per quintal.

Likewise, the spice for delivery in January rose by Rs 229, or 1.04 per cent to Rs 22,219 per quintal, while February contract up by Rs 175, or 0.79 per cent to Rs 22,331 per quintal.

Analysts said rising demand at spot markets due to the ongoing marriage season and fall in arrivals pushed up pepper futures prices.