Pepper prices surged by Rs 940 to Rs 36,815 per quintal in futures trade today on rising spot market demand against tight supply.
At the National Commodity and Derivatives Exchange, pepper for delivery in December rose by Rs 940, or 2.62%, to Rs 36,815 per quintal, with an open interest of 446 lots.
Similarly, the spice for delivery in October shot up by Rs 800, or 2.30%, to Rs 35,635 per quintal, with an open interest of 8,387 lots.
Analysts said apart from limited arrivals from producing belts, rising demand in the spot markets mainly led to an upsurge in pepper futures prices.
