Pepper gains more than 1% on rising spot demand
Estimates of higher output, weak exports capped the gains
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Pepper futures for March gained Rs 470, or 1.32%, to Rs 36,200 per quintal in 995 lots.
At the National Commodity and Derivatives Exchange (MCX), the April contract moved up by Rs 360, or 1.05%, to Rs 34,590 per quintal in 1,671 lots.
Prices gained as speculators enlarged their positions, triggered by rising spot market demand.
However, estimates of a higher output this year and weak exports capped the gains.
At the National Commodity and Derivatives Exchange (MCX), the April contract moved up by Rs 360, or 1.05%, to Rs 34,590 per quintal in 1,671 lots.
Prices gained as speculators enlarged their positions, triggered by rising spot market demand.
However, estimates of a higher output this year and weak exports capped the gains.
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First Published: Mar 11 2013 | 3:43 PM IST