Continuing its winning streak, pepper prices went up by Rs 353 or 1.73 per cent to Rs 20,751 per 100 kg in futures trading today, mostly on the back of strong domestic demand amid weak supplies in the spot markets.
At the National Commodity and Derivatives Exchange platform, pepper for delivery in far-month September contract traded Rs 353 or 1.73 per cent higher, at Rs 20,751 per 100 kgs, with an open interest of 2,800 lots.
Likewise, the spice for delivery in July contract also gained Rs 303 or 1.52 per cent, to Rs 20,251 per quintal, with an open interest of 1,307 lots.
Pepper for delivery in August contract also climbed Rs 287 or 1.48 per cent to Rs 20,470 per 100 kgs in an open interest of 15,050 lots. It had gained 1.76 per cent at Rs 20,183 per 100 kgs in the previous session.
Market analysts said strong demand at physical markets continued to influence pepper prices at futures trade here. Besides, tight supplies as farmers have held back their produce in anticipations of higher prices also supported the upside in the spice prices, they said.
