Pepper sheds 0.6% on sluggish demand

Speculators trim positions on buzz of higher output, weak exports

Pepper prices shed 0.57 per cent to Rs 37,655 per quintal in futures trading today as speculators trimmed their positions on the back of sluggish demand at prevailing higher levels.

Estimates of higher output this season and weak exports also influenced pepper futures.

At the National Commodity and Derivatives Exchange, pepper for delivery in December fell by Rs 215, or 0.57 per cent, to Rs 37,655 per quintal with an open interest of 6,568 lots.

February pepper lost Rs 75, or 0.21 per cent to Rs 34,880 per quintal in 1,376 lots.

Market analysts said speculators trimmed their position on the back of sluggish demand at prevailing higher levels in the spot market.