Pepper futures gained on speculative buying triggered
by expectations that the commerce
ministry may restore pepper export
subsidy. Unsubstantiated reports on export subsidy helped the bullish trend in the market. The active
March contract on the National Commodity
and Derivatives Exchange of India crossed
the level of Rs12,900 per 100 kilogram
and hit a high of Rs13,099 before slipping down to Rs12,865.