Pepper futures edge higher on pick-up in demand

Pepper prices moved up by 1.09 per cent to Rs 47,900 a quintal in futures market today as participants built up fresh positions, triggered by pick-up in domestic as well export demand at the spot market.
At the Multi Commodity Exchange (MCX), pepper for delivery in September rose by Rs 515, or 1.09 per cent, to close at Rs 47,900 per quintal with a trading volume of 130 lots.
The October contract was trading at Rs 47,280 per quintal, up by Rs 255, or 0.54 per cent, with a business volume of 19 lots.
Analysts said fresh positions created by traders following an upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up pepper prices at the futures trade.