Pepper prices rose by Rs 123 or 0.75 per cent to Rs 16,560 per quintal in futures trade today on brisk buying by speculators and strong demand in the spot market. Restricted arrivals from the producing regions also influenced the trading sentiment to some extent.
At the National Commodity and Derivatives Exchange, pepper for delivery in August contract rose by Rs 123, or 0.75 per cent to Rs 16,560 per quintal, with an open interest of 1,991 lots.
Similarly, pepper for the current-month June contract traded higher by Rs 93, or 0.58 per cent to Rs 16,165 per quintal, with an open interest of 916 lots.
Analysts said strong demand at physical markets against less arrivals in the physical market led to a rise in pepper futures prices.