Pepper futures prices gained by Rs 220 to Rs 35,105 per quintal today, as speculators enlarged their positions, driven by a pick-up in spot demand against restricted supplies.
Weak overseas enquiries and expectations of higher production in major growing region restricted gains.
At the National Commodity and Derivatives Exchange, pepper for delivery in January rose by Rs 220, or 0.63 per cent, to Rs 35,105 per quintal, with an open interest of 1,296 lots.
Likewise, the spice for delivery in December jumped up by Rs 205, or 0.58%, to Rs 35,440 per quintal, with a trade volume of 9,571 lots.
Analysts said apart from a pick-up in demand in the spot market against tight supplies from producing region mainly led to rise in pepper prices at futures trade.
