Pepper futures up on lower global production estimates

Pepper futures prices recovered by Rs 50 to Rs 22,700 per quintal today as speculators enlarged positions, supported by estimates of lower global production and diminishing stocks.

At the National Commodity and Derivatives Exchange counter, pepper for delivery in June rose by Rs 50, or 0.22 per cent, to Rs 22,700 per quintal, with an open interest of 11 lots. 

Likewise, the spice for delivery in January inched up by Rs 6, or 0.03 per cent, to Rs 21,515 per quintal, clocking a trade volume of 10,873 lots.

Analysts said tight supplies in physical markets following estimates of lower global output and falling stocks in the physical markets, mainly influenced pepper futures prices.