Pepper futures down on subdued export demand, higher output

NEW DELHI: Pepper prices moved down by Rs 135 to Rs 34,170 per quintal in futures trade today as speculators reduced their positions on weak export demand and expectations of higher output.

However, winter season demand,limited the fall. At the National Commodity and Derivatives Exchange, pepper for delivery in March fell by Rs 135, or 0.39 per cent to Rs 34,170 per quintal with an open interest of 707 lots.

The spice for delivery in current month declined by Rs 60, or 0.17 per cent to Rs 36,310 per quintal in 2,676 lots.

Marketmen attributed the fall in pepper futures to weak overseas demand as well as expectations of higher production but seasonal demand and depleting stocks due to thin supplies, capped the loss.