Pepper extended gains as prices moved up by another 0.60 per cent in futures trade today, supported by weak supplies and depleting stocks in the spot market.
At the National Commodity and Derivatives Exchange, pepper for delivery in April shot up by Rs 143 or 0.60 per cent to Rs 23,815 a quintal, with an open interest of 9,101 lots.
Similarly, the spice for delivery in May rose by Rs 142 or 0.59 per cent to Rs 24,109 a quintal, with an open interest of 1,605 lots.
Market analysts said depleting stocks and squeeze in supplies in the spot markets mainly influenced prices here.
Additionally, declining stocks with other pepper producing countries too supported the upside in prices, they added.