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Buoyed by buying at lower levels and covering-up of short positions by speculators, pepper prices rose by 0.86 per cent in futures trade today. However, weakening export demand restricted the gains.
At the National Commodity and Derivatives Exchange, pepper for delivery in February traded higher by Rs 216 or 0.86 per cent at Rs 25,245 a quintal, with an open interest of 7,054 lots.
Likewise, the spice for delivery in March gained Rs 43 or 0.18 per cent to Rs 24,094 a quintal, clocking a business volume of 31 lots.
Market analysts attributed the rise in futures prices to covering up of short positions by speculators amid tight supplies from producing regions.
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