Pepper futures extended gains for the second straight day by adding Rs 240 to Rs 37,095 per quintal today on rising demand, triggered by lower output estimates.
At the National Commodity and Derivatives Exchange, the March contrac for pepper rose by Rs 240, or 0.65%, to Rs 37,095 per quintal, with an open interest of 4,111 lots.
The April contract gained Rs 190, or 0.51%, to Rs 37,320 per quintal, with an open interest of 3,115 lots.
Analysts said apart from rising demand in the spot market, less arrivals from producing region mainly kept pepper futures up.
They said speculations of lower output estimates further fuelled the uptrend in pepper prices.
