Pepper futures prices tumble 3.14% on higher output hopes

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SummaryPepper prices tumbled by 3.14 per cent to Rs 37,065 per quintal in futures trade today as speculators trimmed their positions on expectations of higher output this year.

Pepper prices tumbled by 3.14 per cent to Rs 37,065 per quintal in futures trade today as speculators trimmed their positions on expectations of higher output this year.

At the National Commodity and Derivatives Exchange, pepper for delivery in December plunged by Rs 1200, or 3.14 per cent to Rs 37065 per quintal with an open interest of 5,807 lots.

Similarly, the spice for delivery in the February contract lost Rs 625, or 1.80 per cent to Rs 34095 per quintal in 1763 lots.

Marketmen attributed the steep fall in pepper futures to on expectations of higher output this year and weak export demand at prevailing higher levels.

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