Pepper futures decline on sluggish demand

NEW DELHI: Pepper prices declined by Rs 85 to Rs 43,260 per quintal in futures trade today as speculators trimmed positions on the back of sluggish spot market demand at prevailing higher levels.

At the National Commodity and Derivatives Exchange, pepper for delivery in October declined by Rs 85, or 0.20 per cent to Rs 43,260 per quintal, with an open interest of 4,814 lots.

Likewise, the spice for delivery in November lost Rs 75, or 0.17 per cent, to Rs 43,155 per quintal, with an open interest of 3,070 lots.

Marketmen attributed the fall in pepper futures to sluggish demand at prevailing higher levels in the spot market.