Pepper gains 0.4% on spot demand

Pepper prices rose by Rs 110 to Rs 30,090 per quintal in futures trade today as speculators enlarged their positions, supported by pick-up in spot market demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in February was up Rs 110, or 0.37% to Rs 30,090 per quintal, with an open interest of 4,440 lots.

March pepper gained Rs 55, or 0.18%, to Rs 30,220 per quintal, with an open interest of 2,679 lots.

Market analysts said lower stocks in the market, rise in demand in the spot market mainly helped pepper prices to trade higher at futures trade.