Pepper futures fall on subdued spot demand

Pepper futures prices fell by  Rs 68, or 0.36 per cent, to Rs 18,565 per quintal today, as speculators reduced their positions, triggered by subdued spot demand and hopes of a rise in production.

At the National Commodity and Derivatives Exchange platform, pepper for November delivery by Rs 68, or 0.36 per cent, to Rs 18,565 per quintal, with an open interest of 8,857 lots.

Similarly, the spice for delivery in October declined by Rs 57, or 0.31 per cent, to Rs 18,280 per quintal, with a business turnover of 3,833 lots.    

Analysts said fall in pepper prices was mostly attributed to off-loading by speculators, following subdued domestic as well as export demand.

Hopes of good production due to favourable monsoon rains might also weigh on prices, they said. 

Meanwhile, pepper exports in April-August fell five per cent to 7,600 tonnes from the same period a year ago.