Pepper futures up 0.50% on tight supplies

Rise in demand also pushed pepper prices higher

Pepper prices rose Rs 200 to Rs 40,510 per quintal in futures trade today on pick-up in demand in the spot market against tight supplies following fall in arrivals from key producing regions.

At the National Commodity and Derivatives Exchange, pepper for delivery in July rose by Rs 200, or 0.50%, to Rs 40,510 per quintal with an open interest of 91 lots.

The June contract moved up by Rs 155, or 0.39%, to Rs 40,185 per quintal in 489 lots.

Analysts said, fresh buying by speculators, driven by pick-up in demand in the spot market amid less arrivals from mainly pushed up pepper prices at futures market today.