Pepper declines 0.79% on sluggish export demand

Higher output estimates influences prices

Pepper prices fell by Rs 335 to Rs 42,110 per quintal in futures market today as speculators trimmed positions on sluggish demand at higher levels.

Reports of higher output on adequate late monsoon rains in growing areas influenced the trading sentiment.

At the National Commodity and Derivatives Exchange, pepper for delivery in December declined by Rs 335, or 0.79%, to Rs 42,110 per quintal, with an open interest of 1540 lots.

The November contract lost Rs 135, or 0.32% to Rs 42,650 per quintal in 4988 lots.

Market analysts said speculators offloaded their positions on the back of sluggish export demand at prevailing higher levels.

 

They said reports of higher output following adequate late monsoon rains in growing areas of southern region helped in pulling down the prices.