Pepper surges near 1% on short-covering

Weak export estimates restricted the gains

Pepper futures for March shot up by Rs 335, or 0.99%, to Rs 34,300 per quintal in 733 lots.

At the National Commodity and Derivatives Exchange, the February contract moved up by Rs 310, or 0.89%, to Rs 35,050 per quintal in 2,795 lots.

Speculators covering up their short positions triggered the uptrend.

However, weak export and output estimates restricted the gains.