Pepper futures prices shot up by Rs 170, or 0.85 per cent, to Rs 20,156 per 100 kg today, supported by firm demand at physical markets.
At the National Commodity and Derivatives Exchange platform, pepper for September surged Rs 170, or 0.85 per cent, to Rs 20,156 per 100 kg, with an open interest of 2,259 lots, while August delivery went up by Rs 144, or 0.73 per cent, to Rs 19,872 per quintal, with an open interest of 14,399 lots.
Similarly, the spice for delivery in July contract moved up by Rs 118, or 0.61 per cent, to Rs 19,581 per 100 kg, with an open interest of 1,812 lots.
Meanwhile, spot pepper jumped Rs 161 to Rs 19,539 per 100 kg in yesterday's trading in Kochi, a major trading hub in Kerala. Analysts said rising demand at physical markets mainly led to an upsurge in pepper prices at futures trade.
Besides, lower arrivals in spot market as farmers are not selling their produce in anticipation of further rise in prices also supported the upside, they said.
