Pepper futures down 0.78 pc on higher output hopes

NEW DELHI: Pepper prices fell by Rs 330 to Rs 42,100 per quintal in futures market today after participants reduced exposure amid prospects of higher crop this year.

However, thin supplies and depleting stocks restricted the fall.

At the National Commodity and Derivatives Exchange, pepper for delivery in December fell by Rs 330, or 0.78 per cent, to Rs 42,100 per quintal, with an open interest of 2,971 lots.

Similarly, the spice for delivery in November declined by Rs 320, or 0.74 per cent, to Rs 42,650 per quintal, with an open interest of 5,343 lots.

Marketmen attributed the fall in pepper futures to hopes of higher crop this year.