Pepper futures down 0.32% on weak export demand

Pepper futures prices fell by 0.32 per cent to Rs 23,057 per quintal today as speculators reduced their positions, triggered by subdued export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in May fell by Rs 75, or 0.32 per cent, to Rs 23,057 per quintal, with an open interest of 305 lots.  

Similarly, the spice for delivery in March moved down by Rs 43, or 0.19 per cent, to Rs 22,637 per quintal, clocking an open interest of 9,099 lots. 

Analysts said weakening export demand due to lower prices of Vietnam produce mainly kept pressure on the pepper futures prices here.   

Vietnam is the leading pepper-producing country in the world, followed by Indonesia and India.