Pepper down 1.49% on sluggish demand

Weak trend at spot market causes fall

Pepper prices tumbled by Rs 665 to Rs 43,920 per quintal in futures market today as speculators trimmed their positions, tracking a weak trend at the spot market on sluggish demand at prevailing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in September fell by Rs 665, or 1.49%, to Rs 43,920 per quintal, with an open interest of 2,089 lots.

August pepper plunged by Rs 545, or 1.23%, to Rs 43,620 per quintal in 5,389 lots.

Analysts said speculators trimmed their positions on the back of sluggish demand in the spot market at prevailing higher levels, which pulled down pepper prices at futures trade.