Pepper down 1% on sluggish exports, spot demand

October contrat falls 0.46%

Pepper prices declined by 0.86% to Rs 41,600 per quintal in futures trade today as speculators indulged in trimming their positions amid sluggish exports and weak spot demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in August fell by Rs 360, or 0.86%, to Rs 41,600 per quintal, with an open interest of 5,182 lots.

October pepper lost Rs 195, or 0.46%, to Rs 42,160 per quintal, with an open interest of 1,987 lots.

Analysts said off-loading of positions by speculators due to sluggish exports and weak demand at the domestic spot markets, weighed down on pepper prices.