Pepper futures down on fall in export demand

NEW DELHI: Pepper futures prices today shed Rs 370 to Rs 39,400 per quintal as speculators trimmed their positions amid a fall in exports demand.

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

At the National Commodity and Derivatives Exchange, pepper for delivery in May lost Rs 370, or 0.93 per cent, to Rs 39,400 per quintal, with an open interest of 3,165 lots.

Similarly, the spice for delivery in April lost Rs 255, or 0.65 per cent, to Rs 38,815 per quintal, with an open interest of 4,327 lots.

Analysts said decline in export orders mainly kept pressure on pepper futures prices, but restricted supplies in the spot markets capped the losses.