Pepper down 0.78% on higher output hopes

Thin supplies and depleting stocks restricts fall

Pepper prices fell by Rs 330 to Rs 42,100 per quintal in futures market today after participants reduced exposure amid prospects of higher crop this year.

Thin supplies and depleting stocks restricted the fall.

At the National Commodity and Derivatives Exchange, pepper for delivery in December fell by Rs 330, or 0.78%, to Rs 42,100 per quintal, with an open interest of 2,971 lots.

November pepper declined by Rs 320, or 0.74%, to Rs 42,650 per quintal, with an open interest of 5,343 lots.

Marketmen attributed the fall in pepper futures to hopes of higher crop this year.