Pepper rises 0.8% on tight supplies

Pepper prices rose by Rs 279 to Rs 34,690 per quintal in futures trade today as speculators enlarged their positions, influenced by a pick-up in spot market demand amid restricted arrivals.

At the National Commodity and Derivatives Exchange, November pepper rose by Rs 279, or 0.81% to Rs 34,690 per quintal with an open interest of 397 lots.

The September contract gained Rs 44, or 0.13% to Rs 33,411 per quintal in 6,792 lots.

Analysts said a pick-up in spot market demand amid low arrivals from producing belts mainly pushed up pepper prices in futures trade.