Pepper up on spot demand

Speculators brought positions led by a rise in demand in the physical market

Pepper prices rose by Rs 150 to Rs 37,050 per quintal in futures trading today as speculators created fresh positions, supported by a rise in demand in the spot market.

At the National Commodity and Derivatives Exchange, April pepper gained Rs 150, or 0.41%, to reach Rs 37,050 per quintal with an open interest of 1,357 lots.

Similarly, the spice for delivery in May added Rs 115, or 0.30%, and touched Rs 38,080 per quintal in 4,718 lots.

Analysts said fresh buying by speculators, driven by a rise in demand in the spot market, mainly led to rise in pepper futures prices today.