Pepper climbed 1.70% to Rs 27,310 per quintal in futures trading today after speculators built up fresh positions, driven by tight supplies in the spot market amid increased demand.
At the National Commodity and Derivatives Exchange, pepper for delivery in June shot up by Rs 456, or 1.70%, to Rs 27,310 per quintal, with an open interest of 2,517 lots.
Similarly, the spice for delivery in May jumped up by Rs 441, or 1.67%, to Rs 26,832 per quintal, with a business volume of 11,014 lots.
Analysts said a firming trend at the domestic market on rising demand against restricted arrivals from producing belts, mainly pushed up pepper futures prices.