Pepper futures prices gained Rs 310 to Rs 31,390 per quintal today, as speculators enlarged their positions, tracking a firming trend at spot market against tight supplies.
Expectations of lower output and a fresh overseas inquiries supported the uptrend.
At the National Commodity and Derivatives Exchange, the March contract for pepper shot up by Rs 310, or 1%, to Rs 31,390 per quintal, with an open interest of 4,049 lots.
The April contract moved up by Rs 305, or 0.97%, to Rs 31,770 per quintal in 1,086 lots.
Analysts said increased positions built-up by speculators on pick-up in spot demand and reports of lower crop estimates led an upsurge in pepper prices at futures market.
