Pepper down 0.68% on weak overseas demand

Improved rains influence prices

Pepper prices traded lower by Rs 290 to Rs 42,320 per quintal in futures market today on speculators selling, driven by weak overseas demand at existing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in September fell by Rs 290, or 0.68%, to Rs 42,320 per quintal, with an open interest of 431 lots.

October pepper shed Rs 70, or 0.16%, to Rs 42,965 per quintal, with an open interest of 5,743 lots.

Marketmen attributed the fall in pepper futures to a weak overseas demand at prevailing higher levels and improved rains in producing regions.