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Pepper futures gain 0.39% on tight supply

Nov 22 2012, 15:58 IST
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SummaryPepper prices gained 0.39 per cent to Rs 35,050 per quintal in futures trade.

Pepper prices gained 0.39 per cent to Rs 35,050 per quintal in futures trade today on tight supplies in the spot market against increased demand.

However, weak overseas demand and estimates of higher output restricted the gains.

At the National Commodity and Derivatives Exchange, pepper for delivery in February rose by Rs 135, or 0.39 per cent, to Rs 35,050 per quintal, with an open interest of 1,178 lots.

Likewise, the spice for delivery in December moved up by Rs 110, or 0.29 per cent, to Rs 37,720 per quintal, with an open interest of 6,816 lots.

Marketmen said besides tight supplies in the spot market, increased demand mainly helped pepper prices to trade higher at futures trade.

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