Pepper futures down on profit-booking

Pepper futures prices declined by Rs 40 to Rs 35,445 per quintal today, as speculators booked profits amid subdued demand in the spot market.

At the National Commodity and Derivative Exchange, pepper for delivery in December month shed Rs 40, or 0.11%, to Rs 35,445 per quintal, with an open interest of 8,996 lots.

Likewise, the spice for delivery in January traded lower by Rs 30, or 0.09%, to Rs 34,960 per quintal, with a business turnover of 2,046 lots.

Market analysts said apart from profit-bookings by speculators, sluggish demand in the spot market mainly pushed down pepper futures prices.