Pepper up 0.95% on spot demand

Higher putput limited the gains

Pepper futures for March shot up by Rs 330, or 0.95%, to Rs 34,950 per quintal in 751 lots.

At the National Commodity and Derivatives Exchange, the February contract moved up by Rs 250, or 0.70%, to Rs 36,050 per quintal in 2,586 lots.

Firming spot market trend and winter season demand supported the trade.

However, higher output and weak exports limited the gains.

Pepper output is likely to be higher due to expectations of good yield in Kerala and Karnataka.