Pepper prices rose by Rs 585 to close at Rs 44,190 per quintal in futures market today as speculators enlarged positions on the back of good demand in the spot market amid squeezed supply.
At the National Commodity and Derivatives Exchange, pepper for delivery in October rose by Rs 585, or 1.34 per cent, to close at Rs 44,190 per quintal with a trading volume of 105 lots.
Similarly, the November delivery of the spice increased by Rs 290, or 0.67 per cent, to end at Rs 43,880 per quintal, in an open interest of 7 lots.
Traders said, widening of positions built up by participants amid rising domestic as well as export demand in the physical market following drop in arrivals from producing belts, mainly led to the sharp rise in pepper prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)