Pepper up 1.24% on thin supply

Expectations of higher production capped the gains

Pepper futures for February moved up by Rs 480, or 1.24%, to Rs 39,200 per quintal in 651 lots.

At the National Commodity and Derivatives Exchange (NCDEX), the March traded higher by Rs 235, or 0.65%, to Rs 36,400 per quintal in 2,100 lots.

Prices rose as speculators created fresh positions, driven by a firm trend at spot market on pick-up in demand against thin supplies.

However, expectations of higher production this year and sluggish exports restricted the gains.