Thin supplies restrict losses
Pepper prices moved down by 0.47% to Rs 43,750 per quintal in futures trade today as speculators indulged in reducing their positions, triggered by a weak global demand.
However, thin supplies and dwindling stocks in the spot market restricted the losses.
At the National Commodity and Derivatives Exchange, pepper for delivery in September traded Rs 205, or 0.47%, lower at Rs 43,750 per quintal, with an open interest of 1,836 lots.
August pepper fell by Rs 165, or 0.38%, to Rs 44,055 per quintal, with an open interest of 4,860 lots.
Marketmen said off-loading of positions by speculators due to sluggish export demand led to the fall in pepper futures prices here. Thin supplies restricted the losses.
With the rainfall picking up in the last few weeks, prices for agri-commodities like sugar, turmeric, potato, pepper and cotton have gone down.