Pepper futures prices were up by Rs 65 to Rs 32,700 per quintal today, due to tight supplies in the physical market as farmers held back stock hoping for better prices due to expected fall in output.
At the National Commodity and Derivatives Exchange, pepper for delivery in March rose by Rs 65, or 0.20%, to Rs 32,700 per quintal, with an open interest of 1,334 lots.
Likewise, the spice for delivery in February edged up by Rs 45, or 0.14%, to Rs 32,595 per quintal in 5,783 lots.
Analysts said tight supplies in the physical market as farmers held back stock hoping for better prices, with the market also expecting a fall in output speculations of lower crop estimates mainly pushed up pepper prices at futures trade.
