Pepper futures rise on fresh buying

Pepper prices moved up by Rs 105 to Rs 34,900 per quintal in futures trade today on fresh buying by traders following a rise in spot market demand amid low arrivals from producing regions.

At the National Commodity and Derivatives Exchange, pepper for delivery in January rose by Rs 105, or 0.30%, to Rs 34,900 per quintal with an open interest for 1,276 lots.

In the same way, for December contract delivery, it was trading higher by Rs 85, or 0.24%, at Rs 34,935 per quintal in 9,730 lots.

Analysts said apart from a pick-up in demand in the spot market, lower arrivals from producing regions mainly led to the rise in pepper futures prices.