Pepper futures rise 1.09% on tight supply
Agencies: New Delhi, Oct 18 2012, 16:08 IST
Pepper prices rose by Rs 470 to Rs 43,500 per quintal in futures market today after participants created speculative positions amid tight supplies against increased demand in the spot market.
However, weak export demand at prevailing higher levels restricted the gain.
At the National Commodity and Derivatives Exchange, pepper for delivery in October shot-up by Rs 470, or 1.09 per cent, to Rs 43,500 per quintal, with an open interest of 727 lots.
Likewise, the spice for delivery in November gained Rs 130, or 0.30 per cent, to Rs 42,985 per quintal, with an open interest of 5,046 lots.
Marketmen said thin supplies against increased demand in the spot market mainly led to rise in pepper futures.
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