Pepper futures up 0.23% as spot demand picks-up

Pepper prices rose by 0.23% to Rs 27,490 per quintal in futures trade today after participants enlarged their positions, supported by pick-up in spot demand. 

At the National Commodity and Derivatives Exchange, pepper for delivery in July rose by Rs 64, or 0.23%, to Rs 27,490 per quintal, with an open interest of 7,025 lots.

Similarly, the spice for delivery in August gained Rs 47, or 0.17%, to Rs 28,087 per quintal, with an open interest of 2,514 lots.   

Market analysts said fresh buying by speculators following better trend at the spot market on pick-up in demand mainly pushed up pepper futures prices.