Pepper rises 0.58% on tight supply

Deficient rains help upsurge

Pepper prices moved up by Rs 255 to Rs 44,245 per quintal today as speculators enlarged their positions, driven by rising demand in the spot market against tight supplies.

Lower output concerns due to deficient monsoon in growing areas fuelled the upsurge in pepper, traders said.

At the National Commodity and Derivatives Exchange, pepper for delivery in September moved up by Rs 255, or 0.58%, to Rs 44,245 per quintal, with an open interest of 2,285 lots.

The August contract gained Rs 250, or 0.57%, to Rs 43,840 per quintal in 5,230 lots.