Pepper prices surged by Rs 210, or 0.50%, to Rs 42,500 per quintal in futures market today after speculators enlarged positions, driven by tight supplies in the market.
At the National Commodity and Derivatives Exchange, pepper for delivery in September rose by Rs 210, or 0.50%, to Rs 42,500 per quintal, with an open interest of 145 lots.
October pepper was up by Rs 35, or 0.08%, to Rs 43,010 per quintal, with an open interest of 5,805 lots.
Market experts said the rise in pepper prices at futures market was supported by tight supplies in the spot markets but weak demand capped the gains.