Supported by rising spot demand and tight supply, pepper traded higher by 0.33 per cent at Rs 18,775 per quintal in futures market today. However, sluggish export demand and trend overseas capped gains.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in November traded up Rs 61, or 0.33 per cent, at Rs 18,775 per quintal, with an open interest of 9,549 lots.
Likewise, the spice for delivery in October also gained Rs 59, or 0.32 per cent, to Rs 18,472 per quintal, with an open interest of 2,789 lots, while delivery in December gained Rs 58, or 0.31 per cent to Rs 19,053 per quintal, clocking in a business turnover of 1,677 lots.
Analysts said apart from pick up in demand at the spot markets on account of marriage season, tight supplies also influenced the pepper futures prices.
