Pepper futures shed 1.34% on sluggish demand

Pepper futures prices shed 1.34% to Rs 30,900 per quintal today, as speculators offloaded their positions after fall in demand at existing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in January fell by Rs 420, or 1.34%, to Rs 30,900 per quintal, with an open interest of 4,344 lots.

Likewise, the spice for delivery in February declined by Rs 370, or 1.17%, to Rs 31,290 per quintal in 3,106 lots.

Analysts said speculators offloaded their positions due to sluggish demand at prevailing higher levels in the spot market, fresh arrivals from producing region mainly pulled down pepper futures prices.