Supported by firming trend at the spot markets and covering up of short positions by speculators, pepper futures prices shot up by 2.22 per cent to Rs 19,895 per quintal today.
However, subdued exports demand weighed on the prices and restricted gains.
At the National Commodity and Derivatives Exchange counter, pepper for delivery in February shot up by Rs 432, or 2.22 per cent, to Rs 19,895 per quintal, with an open interest of 142 lots.
The spice for delivery in November also rose sharply by Rs 313, or 1.66 per cent, to Rs 19,191 per quintal, with an open interest of 10,462 lots.
Analysts said rise in pepper futures prices was mostly attributed to pick up in demand at the spot markets along with covering up of pending short positions by speculators.
