Pepper futures plunge 2.54% on higher output hopes

Dec 21 2012, 12:32 IST
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SummaryPepper prices plunged by 2.54 per cent to Rs 34,200 per quintal in futures market.

Pepper prices plunged by 2.54 per cent to Rs 34,200 per quintal in futures market today as speculators trimmed their positions on hopes of rise in output amid sluggish export demand.

At the National Commodity and Derivatives Exchange, pepper for delivery in March month plunged by Rs 890, or 2.54 per cent to Rs 34,200 per quintal with an open interest of 551 lots.

Similarly, the spice for delivery in the February contract lost Rs 750, or 2.11 per cent to Rs 34,760 per quintal in 2416 lots.

Market experts said expectations of an increase in output and weak export demand mainly pulled down pepper futures.

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