Pepper maintains upward trend on lower output estimates

Pepper rose for the fourth straight day in the futures market today, adding Rs 285 to Rs 37,200 per quintal on rising spot market demand and reports of lower output estimates.

At the National Commodity and Derivatives Exchange, December pepper gained Rs 285, or 0.77%, to Rs 37,200 per quintal with an open interest for 6,083 lots.

The January contract gained Rs 130, or 0.37%, to Rs 35,690 per quintal in 4,554 lots.

Analysts said in addition to rising spot market demand, reports of lower domestic output estimates influenced pepper prices in futures trade.