Pepper futures down 0.51 pc on profit-booking

NEW DELHI: Pepper prices declined by 0.51 per cent to Rs 41,830 per quintal in futures trade today after speculators locked-in gains.

However, thin supplies in the spot markets restricted the fall.

At the National Commodity and Derivatives Exchange, pepper for delivery in September fell sharply by Rs 215, or 0.51 per cent, to Rs 41,830 per quintal, with an open interest of 4,235 lots.

Similarly, the spice for delivery in October lost Rs 165, or 0.39 per cent, to Rs 42,600 per quintal, with an open interest of 2,705 lots.

Marketmen said besides profit-booking by speculators after recent gains, reports of lower exports as Indian product is offered at higher prices in the global market compared to competitors, attributed to the fall in pepper prices at futures trade.

They, however, said limited supplies from farmers and lower inventories, restricted the losses.