Uptick in demand lifts pepper futures by 2.20%

Pepper prices shot up by 2.20 per cent to Rs 45,995 per quintal in futures trade today as speculators built up fresh positions, taking positive cues from spot market on pick up in demand.
Besides, tight stocks position on fall in arrivals from the producing belts fuelled the uptrend.
At Multi Commodity Exchange (MCX), pepper for delivery in September jumped up by Rs 990, or 2.20 per cent, to Rs 45,995 per quintal with an open interest of 74 lots.
Likewise, the spice for delivery in October edged higher by Rs 55, or 0.12 per cent, to Rs 44,950 per quintal in 73 lots.

Traders said fresh positions created by participants amid pick-up in domestic as well as export demand in the physical market mainly pushed up pepper prices at futures trade.