Pepper futures up on spot demand

Pepper prices rose by Rs 194 to Rs 22,641 per quintal in futures trading today, as speculators enlarged positions, driven by pick up in demand in the spot market.

Lower supplies in the physical market also influenced the pepper prices.

At the National Commodity and Derivatives Exchange counter, pepper for March-month delivery rose by Rs 194, or 0.86 per cent to Rs 22,641 per quintal, with an open interest of 160 lots.

Likewise, the spice for delivery in December gained Rs 80, or 0.37 per cent to Rs 21,870 per quintal, with a business turnover of 4,148 lots.

Analysts said tight supplies in physical markets and increased demand in view of marriage season mainly pushed up pepper futures prices.