Pepper futures slip 2 pc on subdued demand

Pepper prices slipped by Rs 800, or 2.01 per cent, to close at Rs 39,000 per quintal in futures market today as speculators engaged in reducing positions on the back of subdued demand in spot market.

Moreover, ample stocks position on increased supplies from major growing regions weighed on prices.

At the National Commodity and Derivatives Exchange, pepper for delivery in December declined by Rs 800, or 2.01 per cent, to close at Rs 39,000 per quintal with an open interest of 5 lots.

Market analysts said, offloading of positions by participants due to subdued demand in the physical market against adequate stocks position on increased supplies from producing belts, mainly kept pepper prices lower at futures trade.