Pepper rebounds 1.11% as demand picks up

Pepper prices rebounded by 1.11% to Rs 37,480 per quintal in futures trading today as speculators created fresh positions, driven by a rise in demand in the spot market.

However, estimates of a higher output this year restricted the gains.

At the National Commodity and Derivatives Exchange, March pepper shot up by Rs 410, or 1.11% to Rs 37,480 per quintal with an open interest of 1,938 lots.

The April delivery jumped up by Rs 345, or 0.99% to Rs 35,110 per quintal in 875 lots.

Analysts said speculators created fresh positions after pick up in demand in the spot market mainly helped pepper prices to rebound at futures trade.