Supported by a pick up in local demand against restricted supplies, pepper prices shot up by Rs 233, or 1.23 per cent, to Rs 19,200 per 100 kg in futures trade today.
Estimates of lower global output also influenced pepper prices at futures market here.
At the National Commodity and Derivatives Exchange platform, pepper for delivery in August traded Rs 233, or 1.23 per cent higher, at Rs 19,200 per 100 kg, with an open interest of 6,711 lots.
Similarly, the spice for delivery in September contract also gained Rs 223, or 1.16 per cent, to Rs 19,438 per 100 kg, with an open interest of 8,738 lots.
Analysts said apart from pick up in spot demand against restricted supplies, estimates of lower global output also supported the upside in pepper prices in futures trade here.
Meanwhile, the world's largest producer and exporter of the spice Vietnam is expected to produce 1,00,000 tonnes of black pepper in 2010, down 5 per cent on year.
