Pepper futures shed 0.53 pc on supply pressure, higher output

NEW DELHI: Pepper prices declined by 0.53 per cent to Rs 36,330 per quintal in futures trade today as speculators reduced their positions, triggered by supply pressure following arrival of new season crop.

At the National Commodity and Derivatives Exchange, pepper for delivery in March fell by Rs 195, or 0.53 per cent, to Rs 36,330 per quintal, with an open interest of 1,403 lots.

Likewise, the spice for delivery in February moved down by Rs 75, or 0.20 per cent, to Rs 37,240 per quintal, with a business volume of 1,159 lots.

Analysts said the fall in pepper prices at futures was mostly attributed to increased supplies from a new crop in the physical markets and a likely higher output this season.