Pepper down 1.38% on weak export demand

February contract declines 1.1%

Pepper prices moved down by Rs 490 to Rs 35,070 per quintal in futures trade today as speculators trimmed their positions on weak export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in March month fell by Rs 490, or 1.38% to Rs 35070 per quintal with an open interest of 550 lots.

Similarly, the spice for delivery in the February contract declined by Rs 395, or 1.10% to Rs 35,375 per quintal in 2348 lots.

Marketmen attributed the fall in pepper futures to weak export demand, triggering offloading of positions by speculators.