Pepper prices drifted by Rs 45 to Rs 38,665 per quintal in futures trade today after speculators reduced their positions amid weak export demand.
At the National Commodity and Derivatives Exchange, pepper for delivery in July declined by Rs 45, or 0.12%, to Rs 38,665 per quintal, with an open interest of 1,564 lots.
Similarly, the spice for delivery in June traded lower by Rs 10, or 0.03%, to Rs 38,150 per quintal in 3,951 lots.
Analysts said weak export demand at mainly kept pressure on pepper prices at futures trade.