Pepper futures up 0.95% on spot demand

NEW DELHI: Pepper prices surged by 0.95 per cent, to Rs 36,475 per quintal in futures trading today on speculative buying by participants, triggered by rising demand and thin stocks in the market.

At the National Commodity and Derivatives Exchange, pepper for delivery in March shot up by Rs 345, or 0.95 per cent, to Rs 36,475 per quintal, with an open interest of 2,107 lots.

Similarly, the spice for delivery in April moved up by Rs 250, or 0.72 per cent, to Rs 35,140 per quintal in 571 lots.

Analysts said a firming trend at the spot markets on fresh demand and thin stocks influenced pepper prices at futures trade but slack exports restricted the fall.