Pepper futures gain 2.01% on tight supply

Pepper prices surged by Rs 481, or 2.01 per cent, to Rs 24,422 per quintal in futures trade today on increased demand in the spot market against limited arrivals.

At the National Commodity and Derivatives Exchange, pepper for delivery in June surged by Rs 481, or 2.01 per cent, to Rs 24,422 per quintal, with an open interest of 165 lots.

Similarly, the spice for delivery in April jumped up by Rs 352, or 1.50 per cent, to Rs 23,806 per quintal, with a business volume of 9,161 lots.

Analysts said a firming trend at the domestic market on the back of rising demand, mainly supported the rise in pepper futures prices here.

(Source: http://www.business-standard.com/india/news/pepper-futures-gain-201tight-supply/129643/&tp=on)