NEW DELHI, Feb 11: Pepper futures prices today fell by 0.59 per cent to Rs 38,500 per quintal as speculators reduced their positions, tracking a weak trend in the spot markets on subdued demand amid higher output concerns.
At the National Commodity and Derivatives Exchange, pepper for delivery in February fell by Rs 230, or 0.59 per cent, to Rs 38,500 per quintal, with an open interest of 672 lots.
Likewise, the spice for delivery in March moved down by Rs 110, or 0.31 per cent, to Rs 35,580 per quintal, with a business volume of 2,159 lots.
Analysts said the fall in pepper prices at futures was mostly attributed to subdued demand in the spot markets and increased supplies from a new crop in the physical markets and a likely higher output this season.
Meanwhile, in the spot markets at Kochi, pepper prices fell by Rs 118 to Rs 40,220 per 100 kg at Kochi in the previous session. (PTI)
Follow our WhatsApp channel