Pepper gains 0.47% on thin supply

Rise in spot demand supports uptrend

Pepper prices gained 0.47% to Rs 43,540 per quintal in futures trade today as speculators created fresh positions, driven by a rise in spot market demand amid thin supplies.

At the National Commodity and Derivatives Exchange, pepper for delivery in December rose by Rs 205, or 0.47%, to Rs 43,540 per quintal, with an open interest of 2,587 lots.

November pepper gained Rs 120, or 0.27%, to Rs 44,000 per quintal, with an open interest of 5,778 lots.

Marketmen said thin supplies against improved demand in the spot market led to rise in pepper futures.