Pepper rises on thin supply

Pepper prices rose by Rs 70 to Rs 34,306 per quintal in futures trade today on the back of a pick-up in spot market demand amid tight supply availability.

At the National Commodity and Derivatives Exchange, November pepper rose by Rs 70, or 0.20%, to Rs 34,306 per quintal, with an open interest for 310 lots.

The September contract gained Rs 21, or 0.06%, to Rs 33,249 per quintal, with a trade turnover of 7,595 lots.

Analysts said a pick-up in spot market demand and restricted arrivals from producing belts helped pepper prices to trade higher in futures trade.