Pepper prices declined by Rs 197 to Rs 34,720 per quintal in futures trade today as speculators booked-profits at existing higher levels on fall in demand in the spot market.
At the National Commodity and Derivatives Exchange, October pepper declined by Rs 197, or 0.56% to Rs 34,720 per quintal with an open interest of 8971 lots.
The September contract traded lower by Rs 81, or 0.24% to Rs 33,850 per quintal in a business turnover of 2113 lots.
Market analysts said besides profit-booking by speculators, fall in demand in the spot market mainly led to the decline in pepper futures prices.