Pepper futures up on lower output, tight supply

Pepper futures prices rose by 0.28 per cent to Rs 23,600 per quintal today after traders created speculative position, driven by estimates of lower output and tight supplies in the spot market.   

Marketmen attributed the rise in pepper futures prices to hopes of lower output but sluggish exports capped the gains. 

At the National Commodity Derivative Exchange, pepper for delivery in March moved up by Rs 65, or 0.28 per cent, to Rs 23,600 per quintal, with an open interest of 9,595 lots.    

Similarly, the spice for delivery in April gained Rs 64, or 0.27 per cent, to Rs 23,801 per quintal, with a trade volume of 1,746 lots.