Pepper falls on profit-booking

Pepper prices fell by Rs 250 to Rs 37,120 per quintal in futures market today as speculators booked profits at prevailing higher levels, driven by weak domestic and export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in May fell by Rs 250, or 0.67%, to Rs 37,120 per quintal, with an open interest of 2,472 lots.

The june contract moved down by Rs 220, or 0.58% to Rs 38,000 per quintal, with an open interest of 3,015 lots.

Analysts said speculators booked profits at prevailing higher levels on the back of weak domestic and export demand, which kept pressure on pepper prices at futures.