Pepper falls 0.65% on profit-bookings

Pepper prices tumbled by Rs 280 to Rs 42,550 per quintal in futures trade today as speculators booked profits at existing higher levels, driven by weak export demand.

However, lower rains that may hit production in key producing areas restricted the losses.

At the National Commodity and Derivatives Exchange, the July contract for pepper fell by Rs 280, or 0.65%, to Rs 42,550 per quintal, with an open interest of 260 lots.

Analysts attributed the fall in pepper futures to profit-bookings by speculators and weak export demand in the spot market.