Buoyed by a pick up in spot demand and covering-up of short positions, pepper prices rose by Rs 405 to Rs 40,010 per quintal in futures trade today as speculators created fresh positions.
At the National Commodity and Derivatives Exchange, November pepper rose by Rs 405, or 1.02%, to Rs 40,010 per quintal, with an open interest of 826 lots.
The December delivery gained Rs 10, or 0.03% to Rs 38,755 per quintal, with an open interest of 6,364 lots.
Marketmen said rising demand in the spot market and covering-up of short positions, helped pepper futures to trade higher.
