Pepper futures gain 1.32 pc on rising spot demand

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NEW DELHI: Pepper prices gained 1.32 per cent to Rs 36,200 per quintal in futures trading today as speculators enlarged their positions, triggered by rising demand in the spot market.

However, estimates of a higher output this year and weak exports capped the gains.

At the National Commodity and Derivatives Exchange, pepper for delivery in March gained Rs 470, or 1.32 per cent, to Rs 36,200 per quintal with an open interest of 995 lots.

In a similar fashion, the spice for delivery in April moved up by Rs 360, or 1.05 per cent, to Rs 34,590 per quintal in 1,671 lots.

Analysts attributed the rise in pepper prices at futures market to increased buying by speculators on pick-up in demand in the spot market.

Soutve: India Times

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