Pepper falls 0.9% on profit-booking

Pepper futures prices declined by Rs 350, or 0.90% to Rs 38,750 per quintal today, as speculators booked profits amid higher supplies.

At the National Commodity and Derivatives Exchange, the April delivery fell by Rs 350, or 0.90%, to Rs 38,750 per quintal in open interest of 2,927 lots.

The May contract shed Rs 349, or 0.88%, to Rs 39,651 per quintal in 3,440 lots.

Analysts attributed to decline in pepper futures to profit-booking, besides increased arrivals in the market.

They said oversupply in overseas markets also had a negative impact on the trading sentiment.