Pepper gains 0.18% in futures trade on spot demand

Pepper prices rose by Rs 37 to Rs 20,973 per quintal in futures market today on good domestic demand amid weak supplies in the spot market.

Arrivals remained weak as farmers held back their produce on hopes of higher prices.

At the National Commodity and Derivatives Exchange platform, pepper for delivery in September contract traded Rs 37 or 0.18 per cent higher at Rs 20,973 per quintal, with an open interest of 4,295 lots.

The spice for delivery in October contract also gained by Rs 31 or 0.15 per cent to Rs 21,170 per quintal, with an open interest of 956 lots.