Pepper futures down 1% on sluggish demand

Pepper prices fell by 1.06% to Rs 30,264 per quintal in futures trading today as speculators reduced their positions on the back of sluggish demand in the spot market.

At the National Commodity and Derivatives Exchange, November delivery shed Rs 323, or 1.06%, to Rs 30,264 per quintal, with an open interest of 99 lots.

The August contract declined by Rs 208, or 0.71%, to Rs 29,121 per quintal, with an open interest of 9,619 lots.

Market analysts said off-loading of positions by speculators on sluggish spot market demand mainly kept pressure on the pepper futures prices.