Pepper down 0.4% on sluggish demand

Revival in rains influence prices

Pepper prices moved down by Rs 175 to Rs 43,175 per quintal in futures trading today on sluggish domestic as well as overseas demand at prevailing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in October moved down by Rs 175, or 0.40%, to Rs 43,175 per quintal, with an open interest of 1,365 lots.

November pepper lost Rs 105, or 0.24%, to Rs 43,135 per quintal in 4,760 lots.

Analysts said besides sluggish domestic and overseas demand at prevailing higher levels, revival in monsoon rains also influenced pepper prices at futures trade.