Pepper falls by 1.24% on profit booking

Pepper futures today plunged by Rs 265, or 1.24 per cent, to Rs 21,186 per 100 kg at the the National Commodity and Derivatives Exchange as speculators booked profits at existing higher levels after recent gains.

At the National Commodity and Derivatives Exchange counter, pepper for September dipped by Rs 265, or 1.24 per cent, to Rs 21,186 per 100 kg, with an open interest of 13,940 lots.

Similarly, the spice for delivery in October-month fell by Rs 256, or 1.18 per cent, to Rs 21,393 per 100 kg, with an open interest of 2,946 lots.

Analysts attributed the fall in pepper futures to profit booking as prices surged nearly 9 per cent in the past few sessions. 

Meanwhile, India's pepper exports in April-July 2010 rose 2 per cent to 6,750 tonnes from the same period a year ago.