Pepper prices shot up by Rs 221 to Rs 35,205 per quintal in futures market today as speculators enlarged their positions, triggered by a rise in demand in the spot market.
Supply shortage in the physical market following less arrivals from producing regions also supported the uptrend.
At the National Commodity and Derivatives Exchange, November pepper shot up by Rs 221, or 0.63% to Rs 35,205 per quintal with an open interest of 603 lots.
The September contract gained Rs 143, or 0.42% to Rs 33,800 per quintal in 3,444 lots.
Analysts said besides a pick-up in spot market demand supply shortage due to less arrivals from producing belts mainly led to the rise in prices of pepper futures.
