Pepper rebounds 1.3% on spot demand

Pepper futures for April recovered by Rs 440, or 1.26% to Rs 35,490 per quintal in 938 lots.     

At the National Commodity and Derivatives Exchange (NCDEX), the spice for delivery in March jumped up by Rs 355, or 0.97 per cent to Rs 36,920 per quintal in 1,566 lots.

Prices gained as speculators created fresh positions at prevailing attractive levels amid short-covering, driven by a rise in spot market demand.

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