Pepper futures prices rose sharply by 2.87 per cent to Rs 26,095 a quintal today, supported by lower supplies from fresh crop and depleting stocks.
At the National Commodity and Derivatives Exchange, pepper for delivery in February shot up by Rs 729 or 2.87 per cent to Rs 26,095 a quintal, with an open interest of 8,004 lots.
However, the spice for delivery in June fell by Rs 576 or 2.24 per cent to Rs 25,150 a quintal, with an open interest of 85 lots.
Market analysts attributed the significant rise in futures prices to tight supplies and depleting stocks in the domestic market and lower availability in other major producing countries.