Pepper sheds 0.6% on profit-booking

Pepper futures prices fell by Rs 245 to Rs 40,735 per quintal today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market.     However, lower supplies and dwindling stocks restricted the losses.

At the National Commodity and Derivatives Exchange, pepper for delivery in July fell by Rs 245, or 0.60% to Rs 40,735 per quintal with an open interest of 1120 lots.

The June contract lost Rs 225, or 0.56% to Rs 40,165 per quintal in 4,751 lots.    

Analysts said speculators booked profits at prevailing higher levels supported by a weak trend at spot market on sluggish demand mainly led to fall in pepper prices at futures trade.