Pepper futures extend losses, shed 0.58% on fresh arrivals

Pepper remained under pressure in futures trading today with prices falling by another Rs 138 to Rs 23,821 per quintal, largely on fresh arrivals at the spot markets amid weak overseas demand.  

At the National Commodity and Derivatives Exchange, pepper for delivery in July traded Rs 138, or 0.58 per cent lower, at Rs 23,821 per quintal, with an open interest of 14 lots.  

The spice for delivery in February fell by Rs 58, or 0.26 per cent, to Rs 22,255 per quintal, with a business turnover of 9,128 lots. 

The fall in pepper futures prices was mostly due to adequate stocks, following fresh arrivals in the spot markets and subdued overseas demand, analysts said.