Pepper futures down on weak export demand, higher output

NEW DELHI: Pepper prices moved down by Rs 100 to Rs 34,200 per quintal in futures trade today as speculators trimmed their positions on weak export demand and estimates of higher production.

At the National Commodity and Derivatives Exchange, pepper for delivery in February fell by Rs 100, or 0.29 per cent to Rs 34,200 per quintal with an open interest of 665 lots.

Similarly, the spice for delivery in the March declined by Rs 100, or 0.30 per cent to Rs 33,660 per quintal in 665 lots.

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