Pepper futures down 0.5% on profit-taking

Pepper prices moved down by Rs 118 to Rs 23,250 per quintal in futures trading today on emergence of profit-taking by speculators, driven by weak trend at spot market.  

At the National Commodity and Derivatives Exchange, pepper for delivery in May fell by Rs 118, or 0.50%, to Rs 23,250 per quintal, with an open interest of 523 lots.

Likewise, the spice for delivery in March lost Rs 98, or 0.43%, to Rs 22,670 per quintal in 8,294 lots.  

Analysts said profit-taking by speculators amid subdued demand in the spot market, mainly led to the decline in pepper futures prices.