Pepper moves down in futures trade on weak demand

Pepper prices moved down by Rs 94, or 0.46 per cent, to Rs 20,165 per quintal in futures trade today on subdued demand in the spot market against adequate stocks position. 

At the National Commodity and Derivatives Exchange counter, pepper for September moved down by Rs 94, or 0.46 per cent, to Rs 20,165 per quintal, with an open interest of 12,423 lots.

Similarly, the spice for delivery in October fell by Rs 77, or 0.38 per cent, to Rs 20,370 per quintal, with a business volume of 4,051 lots. 

Marketmen attributed the fall in pepper prices at futures market to subdued demand against adequate stocks position.