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Pepper futures on NCDEX gained 2 per cent at Rs 44,680 a quintal on weak supply in the spot markets.
Indian pepper prices are quoted at record high of $8,400 a tonne (asta), while Vietnam produce is selling at $6,400 a tonne.
Pepper production in India is expected to decline due to unfavourable weather conditions. Exports during January-June 2012 were estimated at 10,197 tonnes against 9,059 tonnes in the same period last year.
TURMERIC DOWN
Turmeric futures fell one per cent to Rs 5,702 a quintal on profit booking after the sharp jump in prices in last few trading sessions. The weak demand in spot markets also aided the drop in futures prices.
In Nizamabad spot market, it was down Rs 200 a quintal Rs 5,220 due to low demand.
EGoM meeting
Market men expect the Empowered Group of Ministers meeting on Tuesday to ban futures trading in few agriculture commodity to curb spiraling prices.
EGoM may also impose storage limits on few commodities to bring down inflation. It will also discuss the impact of deficient monsoon on the economy. On Monday, the RBI expressed its concern over high inflation.
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