Pepper down on higher output estimates

Weak overseas demand triggered downtrend

Pepper prices moved down by Rs 160 to Rs 34,015 per quintal in futures trade today as speculators trimmed their positions.

At the National Commodity and Derivatives Exchange, the February contract fell by Rs 160, or 0.47% to Rs 34,015 per quintal in 2,817 lots.

Similarly, the March contract declined by Rs 85, or 0.25% to Rs 33,600 per quintal in 682 lots.

Marketmen said higher output estimates, weak overseas demand and approaching fresh supply season led to a fall in pepper futures.

Meanwhile, pepper output is likely to be higher next year due to expectations of good yields in Kerala and Karnataka.