Pepper futures prices moved up by Rs 1,155 to Rs 44,050 per quintal today as speculators enlarged positions on restricted supplies in the market amid lower output concerns.
Pick up in demand and a firming trend overseas supported the uptrend.
At the National Commodity and Derivatives Exchange, pepper for delivery in August shot up by Rs 1,155, or 2.69%, to Rs 44,050 per quintal, with an open interest of 4,146 lots.
The September contract traded Rs at 1,130, or 2.65%, higher at Rs 43,845 per quintal, with an open interest of 2,756 lots.
Marketmen said the persistent rise in pepper futures was due to tight supplies in the market on lower output concerns on account of deficient rains in key producing states of Kerela and Karnataka.
Rising demand in the spot market also supported the uptrend, they said.
