Supported by a strong demand in spot markets and lower supply, pepper prices rose by Rs 218, or 1.21 per cent, to Rs 18,262 per quintal in futures trade today.
At the National Commodity and Derivatives Exchange, pepper for delivery in August contract gained Rs 218, or 1.21 per cent, to Rs 18,262 per quintal, with an open interest of 4,838 lots.
Similarly, the commodity for July contract edged up by Rs 207, or 1.16 per cent, to Rs 18,051 per quintal, with a business turnover of 9,854 lots.
Analysts attributed a sharp rise in pepper prices in futures trade to strong demand at physical markets, against lower supplies, as farmers held back their produce in anticipation of higher prices.
