Pepper remain weak on low overseas demand
Besides weak overseas demand, better crop prospects kept pressure on pepper prices at futures market
Pepper prices fell by Rs 200 to Rs 42,605 per quintal in futures trade today as speculators trimmed positions amid a weak overseas demand and better crop prospects.
At the National Commodity and Derivatives Exchange, pepper for delivery in November fell further by Rs 200, or 0.47%, to Rs 42,605 per quintal, with an open interest of 4,862 lots.
Likewise, the spice for delivery in December lost Rs 110, or 0.26%, to Rs 42,065 per quintal in 3,365 lots.
Market analysts said besides weak overseas demand, better crop prospects kept pressure on pepper prices at futures market.