Pepper up 0.96% on rising demand

Estimated of higher outputs capped the gains

The pepper futures for February shot up by Rs 335, or 0.96% to Rs 35,245 per quintal in 2,915 lots at the National Commodity and Derivatives Exchange today.

The March contract moved up by Rs 165, or 0.49% to Rs 34,165 per quintal in 696 lots.

However, estimates of higher output limited the upside.

Analysts said speculators enlarging their positions, strong spot market and rising winter-demand kept pepper futures higher.