Pepper declines 0.2% on sluggish demand

Speculators trimmed positions at prevailing higher levels

Pepper prices declined by Rs 85 to Rs 43,260 per quintal in futures trade today as speculators trimmed positions on the back of sluggish spot market demand at prevailing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in October declined by Rs 85, or 0.20% to Rs 43,260 per quintal, with an open interest of 4,814 lots.

November pepper lost Rs 75, or 0.17%, to Rs 43,155 per quintal, with an open interest of 3,070 lots.

Marketmen attributed the fall in pepper futures to sluggish demand at prevailing higher levels in the spot market.