Pepper futures weaken on sluggish demand

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NEW DELHI: Pepper prices weakened by Rs 90 to Rs 36,855 per quintal in futures trade today as speculators reduced their positions after fall in demand at prevailing higher levels in the spot market.

However, expectations of higher output also put pressure on pepper prices.

At the National Commodity and Derivatives Exchange, pepper for delivery in March month declined by Rs 90, or 0.24 per cent to Rs 36,855 per quintal with an open interest of 1,670 lots.

Similarly, the spice for delivery in February contract shed Rs 25, or 0.08 per cent to Rs 38,720 per quintal in 1115 lots.

Marketmen attributed the fall in pepper futures to weak demand at prevailing higher levels in the spot marketand expectations of higher output this year.

India Times

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