Pepper futures decline on subdued exports

Pepper futures prices declined by Rs 94, or 0.50 per cent, to Rs 18,660 per quintal today, owing to slackness in domestic as well as export demand. 

Expectations of a rise in production following favourable rain in growing areas, also kept pressure on the prices.

At the National Commodity and Derivatives Exchange counter, pepper for delivery in October declined by Rs 94, or 0.50 per cent, to Rs 18,660 per quintal, with an open interest of 1,437 lots.

Similarly, the spice for delivery in November lost Rs 82, or 0.43 per cent, to Rs 18,962 per quintal, with an open interest of 10,367 lots.

Analysts attributed the fall in pepper futures prices to subdued domestic and export demand.