Black pepper futures down on sluggish export demand
Black pepper prices on Friday weakened on the domestic futures market on sluggish export demand and declining trends in spot markets.
By PTI |
NEW DELHI : Black pepper prices on Friday weakened on the domestic futures market on sluggish export demand and declining trends in spot markets.
At 1245 hrs National Commodity and Derivatives Exchange, September contract for black pepper was trading 0.5 per cent down at Rs 14,400 per quintal.
The benchmark October contract fell by 0.48 per cent at Rs 14,690 per quintal.
In spot market, black pepper prices were ruling lower at Rs 14,498.15.20 per quintal at spices hub of Kochi, Kerala.
According to an analyst sluggish export demand and reports of good rainfall in major producing regions, which is favourable for the crop, led to a fall in the spice prices at futures market.
ADVERTISEMENT
Pepper exports fell by 12.2 per cent to 7,550 tonnes during the first quarter of 2,008-09. Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
