Pepper prices surged by 2.94% to Rs 38,370 per quintal in futures trading today as speculators created fresh positions, driven by strong demand in the spot market supported by wedding season.
However, weak export and estimates of output restricted the gains.
At the National Commodity and Derivatives Exchange, the December contract for pepper surged by Rs 1095, or 2.94%, to Rs 38,370 per quintal, with an open interest of 6,471 lots.
Similarly, the February contract up by Rs 475, or 1.38%, to Rs 34,970 per quintal in 1,622 lots.
Market analysts said fresh positions created by speculators, driven by strong demand in the spot market due to wedding season mainly pushed up pepper futures.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app