Pepper down 0.28% on profit-booking

Thin supplies restrict losses

Amid profit-booking at improved levels, pepper prices declined by 0.24% to Rs 42,200 per quintal in futures trade today.

Subdued demand for Indian produce in the overseas markets influenced prices.

At the National Commodity and Derivatives Exchange, pepper for delivery in September fell by Rs 100, or 0.24%, to Rs 42,200 per quintal, with an open interest of 867 lots.

October pepper lost Rs 80, or 0.18%, to Rs 43,500 per quintal, with an open interest of 5,714 lots.

Marketmen said profit-booking by speculators after yesterday's gains and reports of lower exports led to the fall in prices.

They, however, added that thin supplies in the spot market as farmers held back stocks on hopes of better prices restricted the losses.