Pepper prices rose by Rs 162, or 0.77 per cent, to Rs 21,160 per quintal in futures trade today supported by pick up in demand at spot markets on account of festival season amid low stocks.
However, subdued export demand weighed on the prices and restricted gains.
At the National Commodity and Derivatives Exchange platform, pepper for November delivery rose Rs 162, or 0.77 per cent, to Rs 21,160 per quintal, with an open interest of 678 lots.
The spice for delivery in September traded Rs 73, or 0.35 per cent higher, to Rs 20,845 per quintal, with an open interest of 9,829 lots. It had gained 0.17 per cent to Rs 20,772 per quintal in the previous session.
Analysts said rise in pepper prices at futures trade was mostly attributed to strong demand at spot markets, driven by festival season and tight stocks following restricted supplies.
