Pepper turns hot on spot demand

PTI New Delhi | Updated on March 11, 2011

Pepper prices surged by Rs 458 to Rs 23,835 a quintal in futures trading today as speculators enlarged their positions, driven by a firming trend in the spot market on pick up in demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in June rose by Rs 458 or 1.96 per cent to Rs 23,835 a quintal, with an open interest of 100 lots.

Similarly, the spice for delivery in March gained Rs 25 or 11 per cent to Rs 22,835 a quintal, with a business volume of 5,965 lots.

Market analysts said fresh buying by speculators on the back of rise in spot demand mainly pushed up prices at futures trade here.

Published on March 11, 2011

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