Pepper futures down 0.49% on sluggish exports

Pepper futures prices shed Rs 49 to Rs 29,440 per quintal today as speculators reduced their positions, amid a weak export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in June shed Rs 49, or 0.17%, to Rs 29,440 per quintal, with an open interest of 8,243 lots.

The July contract weakened by Rs 14, or 0.05%, to Rs 29,276 per quintal, with a business turnover of 3,072 lots.

Analysts said offloading of positions by speculators on the back of a weak export demand mainly led to the decline in pepper futures prices.