Pepper futures prices rose by Rs 157, or 0.79 per cent, to Rs 19,930 per quintal today, as traders created speculative positions, driven by tight supplies in the spot market.
Better domestic and exports demand also supported the upside in the spice prices at futures trade.
At the National Commodity and Derivatives Exchange, pepper for September shot up by Rs 157, or 0.79 per cent to Rs 19,930 per quintal, with an open interest of 1,806 lots, while July delivery went up by Rs 135, or 0.70 per cent, to Rs 19,345 per quintal, with an open interest of 4,193 lots.
Similarly, the spice for delivery in August-month delivery moved up by Rs 113, or 0.58 per cent, to Rs 19,650 per quintal, with an open interest of 12,866 lots.
Analysts said rising demand against tight supplies in spot market mainly led to an upsurge in pepper prices at futures trade. Farmers are not bringing their produce as they are anticipating further rise in prices, they said.
