Pepper down 0.5% on profit-booking

Thin supplies restrict losses

Pepper prices declined by 0.51% to Rs 41,830 per quintal in futures trade today after speculators locked-in gains.

However, thin supplies in the spot markets restricted the fall.

At the National Commodity and Derivatives Exchange, pepper for delivery in September fell sharply by Rs 215, or 0.51%, to Rs 41,830 per quintal, with an open interest of 4,235 lots.

October pepper lost Rs 165, or 0.39%, to Rs 42,600 per quintal, with an open interest of 2,705 lots.

Marketmen said besides profit-booking by speculators after recent gains, reports of lower exports contributed to the fall in pepper prices at futures trade.

 

The Indian product is offered at higher prices in the global market compared to competitors.

They, however, said limited supplies from farmers and lower inventories, restricted the losses.