Pepper futures decline 0.29% on higher output hopes

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SummaryPepper prices declined by Rs 120 to Rs 41,315 per quintal in futures trade.

Pepper prices declined by Rs 120 to Rs 41,315 per quintal in futures trade today as traders reduced positions driven by weak export demand.

Expectations of higher output this year also put pressure on pepper prices.

At the National Commodity and Derivatives Exchange, pepper for delivery in November fell by Rs 120, or 0.29 per cent, to Rs 41,315 per quintal, with an open interest of 1,295 lots.

Similarly, the spice for delivery in December lost Rs 95, or 0.23 per cent, to Rs 40,680 per quintal, with an open interest of 5,922 lots.

Marketmen attributed the fall in pepper futures to a weak export demand and expectations of higher output this year.

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