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Pepper prices surged by Rs 1,153 to Rs 31,601 per quintal in futures trade today as traders enlarged their positions following rise in spot market demand.
Restricted arrivals from the producing regions also supported the uptrend in prices. At the National Commodity and Derivatives Exchange, pepper for delivery in September surged by Rs 1,153 or 3.79 per cent to Rs 31,601 per quintal, with a business turnover of 8,172 lots.
Likewise, the spice for delivery in August shot up by Rs 1,016 or 3.41 per cent to Rs 30,800 per quintal, with an open interest of 1,395 lots.
Analysts said apart from restricted arrivals from producing belts, rise in spot market demand mainly led to an upsurge in pepper prices at futures trade.
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