Pepper futures up 0.74% on lower global stocks

Pepper futures prices rose by Rs 171 to Rs 23,369 per quintal  today as speculators enlarged positions, driven by reports of lower stocks with major producing countries amid weak supplies in domestic markets.

At the National Commodity and Derivatives Exchange counter, pepper for February rose by Rs 171, or 0.74 per cent, to Rs 23,369 per quintal, with an open interest of 2,691 lots.

Likewise, the spice for delivery in January gained Rs 151, or 0.66 per cent, to Rs 23,083 per quintal, with a business turnover of 9,506 lots.

Analysts said reports of lower stocks with major producing countries and tight supplies at domestic physical markets, mainly influenced pepper futures prices here.