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Pepper prices moved up by Rs 110 to Rs 34,250 per quintal in futures trading on Thursday, as speculators enlarged their positions, tracking a firm trend of pick—up in demand at spot market.
Besides, tight supplies in the physical markets also influenced spice prices.
At the National Commodity and Derivatives Exchange, pepper for delivery in February moved up by Rs 155, or 0.44 per cent, to Rs 35,260 per quintal with an open interest of 2,878 lots.
Similarly, the spice for delivery in March gained Rs 110, or 0.32 per cent, to Rs 34,250 per quintal in 764 lots.
Market analysts said speculators enlarging their positions on pick up in spot markets demand against restricted supplies mainly led to rise in pepper prices at futures trade.
However, expectations of higher output and weak export demand capped the gain.
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