Pepper futures rise 1.33% as trading resumes after 4-1/2 yrs

Pepper prices moved up by 1.33 per cent to Rs 46,950 per quintal in futures market today after resumption of trading in the commodity that began from yesterday.

Both the commodity exchanges -- NCDEX and MCX -- resumed black pepper futures trading from yesterday ever since it was stopped four-and-a-half years ago on complaints of mineral oil contamination.

At the National Commodity and Derivatives Exchange (NCDEX), pepper for delivery in October spurted by Rs 615, or 1.33 per cent to close at Rs 46,950 per quintal with an open interest of 10 lots.

Similarly, the spice for delivery in September traded higher by Rs 175, or 0.37 per cent, to end at Rs 47,240 per quintal in 146 lots.

At the Multi Commodity Exchange (MCX), the pepper for delivery in September rose by Rs 455, or 0,97 per cent, to close at Rs 47,215 per quintal with a trading volume of 290 lots.

Analysts said fresh positions created by traders due to pick up in demand in the spot market, mainly attributed the rise in pepper prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)