Pepper futures up 0.35% as demand rises

Pepper prices gained 0.35 per cent to Rs 43,425 per quintal in the futures trade today as speculators enlarged positions,tracking a firm spot market trend amid thin supplies.

At the National Commodity and Derivatives Exchange,pepper for delivery in November rose by Rs 150,or 0.35 per cent,to Rs 43,425 per quintal,with an open interest of 4,976 lots.

Similarly,the spice for delivery in October traded higher by Rs 30,or 0.07 per cent,to Rs 43,100 per quintal,with an open interest of 551 lots.

Marketmen said apart from a firm spot markets trend on pick up in demand,thin supplies from producing belts mainly kept pepper futures remain higher.