Pepper sheds 0.55% on weak export demand

Prices down over 0,5% on cues

Pepper prices shed 0.55 per cent to Rs 40,775 per quintal in futures trade today as speculators reduced their holdings driven by weak export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in July fell by Rs 225, or 0.55%, to Rs 40,775 per quintal with an open interest of 2,670 lots.

The August contract lost Rs 185, or 0.45%, to Rs 41,155 per quintal in 2,251 lots.

Analysts said sharp fall in pepper futures is due to weak export demand at prevailing higher levels but thin supplies restricted the losses.