Pepper prices fell further by 1.59 per cent to close at Rs 47,025 per quintal in futures trading today as speculators engaged in trimming positions, driven by tepid demand in the spot market.
Besides, 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 October plunged by Rs 760, or 1.59 per cent, to close at Rs 47,050 per quintal, with an open interest of 415 lots.
Similarly, the spice for delivery in the current month traded lower by Rs 415, or 0.85 per cent, to finish at Rs 48,420 per quintal in 63 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.)