Pepper prices rose by Rs 325 to Rs 44,190 per quintal in futures trade today as speculators built fresh positions on the back of a rise in the spot demand amid fall in supplies from producing belts.
At the National Commodity and Derivatives Exchange, pepper for delivery in September rose by Rs 325, or 0.74%, to Rs 44,190 per quintal, with an open interest of 4,544 lots.
August pepper moved up by Rs 305, or 0.70%, to Rs 43,900 per quintal in 2,019 lots.
Marketmen said fresh positions built-up by speculators, driven by a rise in demand in the spot market led to the upsurge in pepper futures.
They said deficient rainfall in key growing regions raised concerns of lower output this season, contributing to the hike in prices.
