Pepper prices dipped by Rs 305 to Rs 32,465 per quintal in futures trading today due to sluggish demand amid arrival of new crop in the physical market.
At the National Commodity and Derivatives Exchange, pepper for delivery in January plunged by Rs 305, or 0.93%, to Rs 32,465 per quintal, with an open interest of 6,774 lots.
February pepper shed Rs 225, or 0.68%, to Rs 32,800, with an open interest of 1,490 lots.
Analysts said fresh arrival of new crop in the physical market against sluggish demand mainly pulled down pepper prices at futures market.