Pepper prices rose by 1.78 per cent to Rs 24,450 per quintal in futures trade today, as speculators built up their positions, driven by tight stocks in the market following poor supplies.
At the National Commodity and Derivatives Exchange, pepper for delivery in July traded Rs 428, or 1.78 per cent higher, at Rs 24,450 per quintal, with an open interest of 32 lots.
Similarly, the spice for delivery in current-month February contract gained Rs 108, or 0.48 per cent, to Rs 22,536 per quintal, with a business volume of 8,648 lots.
Market analysts said poor stocks in the market due to thin supplies from producing regions and major cultivating countries influenced the pepper futures prices.
