Pepper futures prices remain up on thin supply

Nov 20 2012, 12:23 IST
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SummaryPepper prices rose by Rs 495 to Rs 40,100 per quintal in futures trading today.

Pepper prices rose by Rs 495 to Rs 40,100 per quintal in futures trading today as speculators enlarged their positions, supported by tight supplies.

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

At the National Commodity and Derivatives Exchange, pepper for delivery in November rose further by Rs 495, or 1.25 per cent, to Rs 40,100 per quintal with an open interest of 298 lots.

On the similar lines, the spice for delivery in the December contract moved up by Rs 105, or 0.22 per cent, to Rs 38,850 per quintal in 6,632 lots.

Market analysts said increased buying by speculators on the back of thin supplies mainly kept pepper futures remain firm.

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