Pepper futures prices today shed Rs 335, or 0.88%, to Rs 37,850 per quintal, as speculators reduced their holdings on the back of a weak export demand.
At the National Commodity and Derivatives Exchange, the May delivery declined by Rs 335, or 0.88%, to Rs 37,850 per quintal, with an open interest of 4,049 lots.
The June contract lost Rs 340, or 0.88%, to Rs 38,450 per quintal in 1,466 lots.
Analysts said speculators offloaded their positions due to weak export demand as prices of
Indian products are higher compared to competitors in the international market, which put pressure on the pepper prices at futures trade here.
They said, however, a firming trend in spot markets on thin arrivals and depleting stocks capped the losses.