Pepper futures prices surge Rs 400 as demand picks up

Pepper prices surged by Rs 400 to Rs 41,800 per quintal in futures market today on pick up in spot demand against thin supplies following less arrivals from producing belts.

At the National Commodity and Derivatives Exchange,pepper for delivery in September surged by Rs 400,or 0.97 per cent,to Rs 41,800 per quintal,with an open interest of 629 lots.

Similarly,the spice for delivery in October shot up by Rs 225,or 0.53 per cent,to Rs 42,825 per quintal,with an open interest of 5,820 lots.

Marketmen said pick up in demand in the spot market against thin supplies due to less arrivals from producing belts mainly led to an upsurge in pepper prices at futures

trade.