Pepper extends losses on weak export demand

Thin supplies in the physical market also restricted losses

Pepper remained under pressure with prices falling by another 0.36% to Rs 41,010 per quintal in futures trade today as speculators engaged in reducing their positions amid weak export demand.

However, thin supplies in the physical market on lower output estimate restricted the losses.

At the National Commodity and Derivatives Exchange, pepper for delivery in August dropped by Rs 150, or 0.36%, to Rs 41,010 per quintal, with an open interest of 1,976 lots.

In a similar fashion, the spice for delivery in July shed Rs 75, or 0.18% to Rs 40,625 per quintal in 2,681 lots.

Analysts said persistent fall in pepper futures is due to weak export demand. But thin supplies capped the losses to some extent.