Pepper futures slide 0.22 pc on muted demand

Pepper prices moved down by 0.22 per cent to Rs 42,970 per quintal in futures market today as speculators trimmed positions amid 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 November drifted lower by Rs 95, or 0.22 per cent down to Rs 42,970 per quintal with an open interest of 55 lots.

Analysts said, offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position on increased supplies from producing belts, mainly led to decline in pepper prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)