Pepper prices surged by Rs 205 to Rs 19,086 per quintal in futures trade today, as speculators enlarged their positions, driven by pick up in demand in the spot market ahead of coming marriage season.
At the National Commodity and Derivatives Exchange counter, pepper for October-month surged by Rs 205, or 1.09 per cent, to Rs 19,086 per quintal, with an open interest of 12,058 lots.
Similarly, the spice for delivery in November-month also rose by Rs 191, or 1.00 per cent to Rs 19,260 per quintal, with an open interest of 3,310 lots.
Analysts said positions increased by speculators and pick up in demand in the spot market mainly led to a rise in pepper prices at futures market here.
