Pepper prices rose by Rs 345 to Rs 43,890 per quintal in futures trade today as speculators created fresh positions, driven by lower supplies in the spot markets. However, slackened demand at higher levels limited the gains.
At the National Commodity and Derivatives Exchange, pepper for delivery in September rose by Rs 345, or 0.79%, to Rs 43,890 per quintal with an open interest of 1,122 lots.
The August contract moved up by Rs 270, or 0.63%, to Rs 43,420 per quintal in 5,457 lots.
Market analysts attributed the rise in pepper prices to thin supplies in the spot markets. The fall in demand at prevailing levels and sluggish exports restricted the gains.
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