Business Standard

Pepper futures surge on firm spot demand

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Press Trust of India New Delhi

Pepper futures prices rose by Rs 290 to Rs 23,000 per quintal today on back of a firm trend at spot markets due to rising demand against restricted arrivals.

Hopes of increase in export demand ahead of Christmas and New Year, also supported the rise in the spice's futures prices.

At the National Commodity and Derivatives Exchange counter, pepper for delivery in March rose by Rs 290, or 1.28 per cent, to Rs 23,000 per quintal, with an open interest of 136 lots.

Similarly, the spice for delivery in November rose by Rs 150, or 0.69 per cent, to Rs 21,965 per quintal, with a business turnover of 6,722 lots.

Analysts said rising demand at spot markets ahead of the marriage season and lower arrivals pushed up pepper prices at futures trade here.

 

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First Published: Nov 09 2010 | 12:48 PM IST

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