Pepper prices spurted by Rs 410 to Rs 37,270 per quintal in futures trade today after participants created speculative positions following reports of a fall in output this year.
At the National Commodity and Derivatives Exchange, the May contract surged by Rs 410, or 1.11%, to Rs 37,270 per quintal, with an open interest of 4,433 lots.
The June contract spurted by Rs 400, or 1.07%, to Rs 37,950 per quintal in 1,388 lots.
Analysts attributed rise in pepper prices at futures trade to reports of a fall in its output this year amid rise in spot demand.
