Pepper futures gain on short-covering

PTI New Delhi | Updated on April 07, 2011

Pepper prices recovered by 0.34 per cent to Rs 26,461 a quintal in futures trade today on covering-up of short positions after yesterday’s losses.

However, weakness in export demand, capped the gains.

At the National Commodity and Derivatives Exchange, pepper for delivery in June rose by Rs 89 or 0.34 per cent to Rs 26,461 a quintal, with an open interest of 614 lots.

Similarly, the spice for delivery in April gained Rs 64 or 0.25 per cent to Rs 25,700 a quintal, with an open interest of 6,458 lots.

Analysts said covering-up of pending short positions by speculators helped pepper futures to trade higher.

However, weak export demand restricted gains.

Published on April 07, 2011

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