Pepper futures rise 2.90 pc on import curbs

Pepper prices rose further by Rs 1,055, or 2.90 per cent, to close at Rs 37,400 per quintal in futures trade today following curbs on imports.
In futures trading at the National Commodity and Derivatives Exchange, pepper for delivery in the current month spurted by Rs 1,055, or 2.90 per cent, to close at Rs 37,400 per quintal with a trading volume of 14 lots.
The prices of pepper have started firming up in both spot and futures markets as the government put restrictions on import of the spice commodity by imposing minimum import price of Rs 500 per kg to protect domestic growers, traders said.

The local pepper prices have fallen sharply to Rs 300 per kg level due to cheaper imports.