Pepper futures prices rose sharply by 2.87 per cent to Rs 26,095 per quintal today, supported by lower supplies from fresh crop and depleting stocks.
At the National Commodity and Derivatives Exchange, pepper for delivery in February shot up by Rs 729, or 2.87 per cent to Rs 26,095 per quintal, with an open interest of 8,004 lots.
However, the spice for delivery in June fell by Rs 576, or 2.24 per cent, to Rs 25,150 per quintal, with an open interest of 85 lots.
Market analysts attributed the significant rise in pepper futures prices to tight supplies and depleting stocks in the domestic market and lower availability in other major producing countries.