Pepper marginally up on restricted supply, global trend

Supported by tight stocks in the market and firming trend in global markets, pepper prices rose by Rs 20, or 0.10 per cent, to Rs 20,091 per 100 in futures trade today.

However, subdued exports demand weighed on the prices and restricted gains.

At the National Commodity and Derivatives Exchange platform, pepper for October gained Rs 20, or 0.10 per cent, to Rs 20,091 per 100 kg, with an open interest of 13,599 lots.

The contract had ended down 0.35 per cent at Rs 20,071 per 100 kg in the previous session. The spice for delivery in November traded Rs 15, or 0.07 per cent higher, to Rs 20,321 per 100 kg, with an open interest of 1,361 lots.

It had gained 0.17 per cent to Rs 20,772 per quintal in the previous session.

Analysts said rise in pepper prices at futures trade was attributed to restricted supplies in the domestic market and lower stocks with major producing countries and an upward trend in global prices.