Pepper slips 0.84 pc on low demand in futures trade

Pepper prices fell down by Rs 405, or 0.84 per cent, to close at Rs 47,900 per quintal in futures market today as speculators trimmed positions tracking subdued demand at the spot market.

Besides, higher supplies at the physical markets from major growing regions, weighed on prices.

At the National Commodity and Derivatives Exchange, pepper for delivery in September declined by Rs 405, or 0.84 per cent, to close at Rs 47,900 per quintal, with an open interest of 186 lots.

Similarly, the spice for delivery in October lost Rs 400, or 0.83 per cent, to end at Rs 48,000 per quintal in 62 lots.

Market analysts said offloading of positions by traders, triggered by fall in demand at the domestic spot markets against adequate stock position on increased supplies, mainly kept pressure on pepper prices in futures trade.

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