Pepper futures rise on spot demand

New Delhi, Mar 11 (PTI) Pepper prices surged by Rs 458 to Rs 23,835 per quintal in futures trading today as speculators enlarged their positions, driven by a firming trend in the spot market on pick up in demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in June rose by Rs 458, or 1.96 per cent, to Rs 23,835 per quintal, with an open interest of 100 lots.

Similarly, the spice for delivery in March gained Rs 25, or 11 per cent, to Rs 22,835 per quintal, with a business volume of 5,965 lots.

Market analysts said fresh buying by speculators on the back of rise in spot demand mainly pushed up pepper prices at futures trade here.

(Source: http://in.news.yahoo.com/pepper-futures-rise-spot-demand-20110310-233100-259.html)