Pepper prices fell further by 2.44 per cent to Rs 47,510 per quintal in futures trading today as speculators engaged in reducing positions, driven by muted demand in the spot market.
Moreover, ample stocks position on increased supplies from major growing regions, weighed on prices.
At the National Commodity and Derivatives Exchange, pepper for delivery in the current month plunged by Rs 1,190, or 2.44 per cent, to Rs 47,510 per quintal, with an open interest of 107 lots.
Similarly, the spice for delivery in the October traded lower by Rs 670, or 1.44 per cent, to finish at Rs 45,775 per quintal in 57 lots.
Market analysts said, offloading of positions by participants owing to slackened demand at prevailing rates in the physical market against adequate stocks position on increased arrivals from producing regions, mainly kept pepper prices down at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)