Pepper futures marginally up on spot demand

Pepper prices rose by Rs 85, or 0.26%, to Rs 33,000 per quintal in futures trade today following a firm trend at spot markets.

At the National Commodity and Derivatives Exchange, February pepper rose by Rs 85, or 0.26 perent, to Rs 33,000 per quintal, with an open interest of  1,275 lots.

The January contract gained Rs 60, or 0.18%, to Rs 33,140 per quintal, with a trade volume of 6,698 lots.

Analysts said fresh buying by speculators following pick-up in demand in the spot market mainly pushed up pepper prices at futures trade.

Higher supplies from new season crop, however, capped the gains.