Pepper futures gain 0.47 pc on thin supply

NEW DELHI: Pepper prices gained 0.47 per cent to Rs 43,540 per quintal in futures trade today as speculators created fresh positions, driven by a rise in spot market demand amid thin supplies.

At the National Commodity and Derivatives Exchange, pepper for delivery in December rose by Rs 205, or 0.47 per cent, to Rs 43,540 per quintal, with an open interest of 2,587 lots.

Similarly, the spice for delivery in November gained Rs 120, or 0.27 per cent, to Rs 44,000 per quintal, with an open interest of 5,778 lots.

Marketmen said thin supplies against improved demand in the spot market mainly led to rise in pepper futures.