Pepper futures prices surged by 1.74% to Rs 29,331 per quintal in futures trade today on pick-up in spot markets demand against tight supply.
At the National Commodity and Derivatives Exchange, pepper for delivery in August surged by Rs 502, or 1.74% to Rs 29,331 per quintal, with an open interest of 826 lots.
Likewise, the spice for delivery in July gained Rs 489, or 1.70% to Rs 29,313 per quintal in 2692 lots.
Pepper for June delivery traded higher by Rs 446, or 1.53% to Rs 29,636 per quintal, with an open interest of 9,912 lots.
Market analysts said besides tight supply in the physical market, pick-up in demand in the spot market helped pepper prices to trade higher at futures trade.
