Pepper shed 0.33% on weak export demand

Speculators reduced positions on weak demand

Pepper fell by Rs 135 to Rs 41,100 per quintal in futures trade today as speculators reduced their positions, driven by weak export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in July month fell by Rs 135, or 0.33% to Rs 41,100 per quintal with an open interest of 3284 lots.

The August contract shed Rs 55, or 0.13% to Rs 41,500 per quintal in 1,920 lots.

Analysts said speculators offloaded their positions on the back of weak export demand mainly led to fall in pepper prices at futures trade.