Pepper futures prices shot up by over one per cent to Rs 30,200 per quintal today as traders created fresh positions, supported by a firming trend at the spot market on pick-up in demand.
At the National Commodity and Derivatives Exchange (NCDEX), pepper for October delivery rose by Rs 314, or 1.05%, to Rs 30,200 per quintal, with an open interest of 889 lots.
Similarly, the spice for August delivery moved up by Rs 278, or 0.96%, to Rs 29,250 per quintal, with a business volume of 9,851 lots, while September contract traded higher by Rs 276, or 0.94%, to Rs 29,784 per quintal, with a trade turnover of 3,246 lots.
Analysts said fresh positions created by traders, driven by a rising demand in the spot market mainly pushed up pepper futures prices.
