Pepper futures surge 0.50 pc on tight supply

Pepper prices surged by Rs 210,or 0.50 per cent to Rs 42,500 per quintal in futures market.

Written by Agencies | New Delhi | Published:September 20, 2012 4:20 pm

Pepper prices surged by Rs 210,or 0.50 per cent to Rs 42,500 per quintal in futures market today after speculators enlarged positions,driven by tight supplies in the market.

At the National Commodity and Derivatives Exchange,pepper for delivery in September rose by Rs 210,or 0.50 per cent,to Rs 42,500 per quintal,with an open interest of 145 lots.

Similarly,the spice for delivery in October up by Rs 35,or 0.08 per cent,to Rs 43,010 per quintal,with an open interest of 5,805 lots.

Market experts the rise in pepper prices at futures market was mostly supported by tight supplies in the spot markets but weak demand,capped the gains.

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