Pepper prices surged by Rs 490, or 2.47 per cent, to Rs 20,313 per quintal in futures trade today on strong demand against paucity of stocks in spot markets.
At the National Commodity and Derivatives Exchange counter, pepper for November surged by Rs 490, or 2.47 per cent, to Rs 20,313 per quintal, with an open interest of 245 lots.
Similarly, the spice for delivery in August shot up by Rs 269, or 1.39 per cent, to Rs 19,591 per quintal, with a business turnover of 3,650 lots.
Analysts said strong demand in the spot market, against poor supply mainly led to an upsurge in pepper prices at futures trade.
