Pepper tumbles more than 2% on profit-booking

Pepper futures prices tumbled by Rs 940 to Rs 38,670 per quintal today, as speculators booked profits at existing higher levels.

However, fall in output in growing areas limited losses.

At the National Commodity and Derivatives Exchange, pepper for delivery in March tumbled by Rs 940, or 2.37%, to Rs 38,670 per quintal, with an open interest of 4,145 lots.

The April contract lost Rs 835, or 2.10%, to Rs 38,970 per quintal in 4,125 lots.

Analysts said speculators booked profits at prevailing higher levels mainly led to fall in pepper prices at futures trade.