Pepper spurts 1.1% on fall in output

The rise in pepper prices at futures trade is attributed to reports of a fall in its output this year amid rise in spot demand

Pepper prices spurted by Rs 410 to Rs 37,270 per quintal in futures trade today after participants created speculative positions following reports of a fall in output this year.

At the National Commodity and Derivatives Exchange, the May contract surged by Rs 410, or 1.11%, to Rs 37,270 per quintal, with an open interest of 4,433 lots.

The June contract spurted by Rs 400, or 1.07%, to Rs 37,950 per quintal in 1,388 lots.

Analysts attributed rise in pepper prices at futures trade to reports of a fall in its output this year amid rise in spot demand.