Pepper futures gain 0.41% on spot demand

Pepper prices moved up by 0.41 per cent to Rs 48,500 per quintal in futures trade today as speculators built up fresh positions, taking positive cues from spot market on upsurge in demand in the spot market.
Besides, tight stocks position on fall in arrivals from producing belts, supported the uptrend.
At the Multi Commodity Exchange (MCX), pepper for delivery in September rose by Rs 200, or 0.41 per cent, to Rs 48,500 per quintal, with an open interest of 153 lots.
Traders said fresh positions created by participants amid pick up in domestic as well as export demand in the physical market mainly, led to the rise in pepper prices at futures trade.