Pepper up 0.36% on strong spot demand

Expectations of higher output capped the upside

Pepper futures for February moved up by Rs 135, or 0.36%, to Rs 37,480 per quintal in 1,477 lots.

At the National Commodity and Derivatives Exchange, the March contract gained Rs 105, or 0.3%, to Rs 35,350 per quintal in 1,286 lots.

Speculators enlarging positions, winter season demand and restricted supplies supported the trade.

However, expectations of higher output and weak export demand capped the upside.