Pepper futures down 0.45% on higher output hopes

Pepper prices fell by Rs 160 to Rs 35,145 per quintal in futures trade today as speculators trimmed their positions, triggered by hopes of higher output and sluggish demand in the spot markets.

At the National Commodity and Derivatives Exchange, pepper for delivery in April month fell by Rs 160, or 0.45% to Rs 35,145 per quintal with an open interest of 914 lots.

Similarly, the spice for delivery in March contract declined by Rs 150, or 0.40% to Rs 37,725 per quintal in 1,829 lots.

Analysts said besides offloading of positions by speculators on expectations of a higher output, sluggish demand in the spot market, put pressure ont he pepper futures prices here.