Pepper up on thin supply, rising demand

September contract up 0.34% on lower arrivals from producing areas

Pepper futures prices today moved up by Rs 150 to Rs 44,150 per quintal as speculators enlarged their positions supported thin supplies amid lower output concerns.

Further, a pick-up in demand and a firming trend overseas also supported the uptrend.

At the National Commodity and Derivatives Exchange, pepper for delivery in September rose by Rs 150, or 0.34%, to Rs 44,150 per quintal, with an open interest of 1,222 lots.

August pepper moved up by Rs 95, or 0.22%, to Rs 43,705 per quintal, with an open interest of 5,326 lots.

Market analysts attributed the rise in pepper futures to pick-up in demand in the spot market against restricted arrivals from producing belts on lower output concerns.

Besides, a firming trend in the global markets also influenced the prices, they added.