NEW DELHI, Jan 28: Maintaining its winning streak, pepper prices moved up sharply by another Rs 275 to Rs 35,600 per quintal in futures trading today, as speculators enlarged their positions, supported by winter season demand.
Besides, tight stocks following restricted supplies in the physical markets also influenced spice prices.
At the National Commodity and Derivatives Exchange, pepper for delivery in April moved up by Rs 275, or 0.78 per cent, to Rs 35,600 per quintal with an open interest of 452 lots.
The spice for delivery in March gained Rs 15, or 0.04 per cent, to Rs 36,960 per quintal in 1,344 lots.
Analysts attributed persistent rise in pepper prices at futures trade to speculators enlarging positions on the back of winter season demand against restricted supplies in the spot markets but expectations of higher output this season as good yields are expected in the top-producing states of Kerala and Karnataka, capped the upside. (PTI)
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